These 2 New Jersey Cities Are Losing Lots of Residents
America’s biggest cities will never be “vacant,” in the true sense of the word. But, certain cities are losing a lot of residents. A new study is out, and it actually implies that two New Jersey cities are losing lots of residents.
The research comes from Aa.investing.com. “There is no shortage of cities in America that provide great quality of life to their inhabitants,” the article states. They add, “For some reason, however, Americans are leaving cities at record numbers, never before seen.”
They go on to mention that one reason could be the shifting economy, as well as the low cost of small-town living. It’s true that you can get a much larger house in a smaller town for a more affordable price than that same house in a larger city. Even the suburbs can be very expensive, especially if they are connected to a major city. Za.investing.com notes that “with a changing economy, people are more independent, moving away from these larger cities in droves.”
Before we get to our state, let’s look at the No. 1 city that they say is moving towards vacancy. It’s Washington, D.C. Why? “Over the last decade, while there has been a major influx of young professionals moving into the city, this has led to large scale gentrification that has relegated a lot of lifelong DC-natives to nearby Maryland and Virginia, where housing costs are lower,” the article states. The major industries here are the federal government and tourism, and the annual growth rate is 1.04%.
As for New Jersey, the city that is moving towards vacancy is Atlantic City. They say gamblers are flocking to Las Vegas. “A place with gambling and casino nightlife like Vegas has warmer weather, making it a more attractive spot to get away,” the add. Ocean City is also on the list at No. 28. Find the full list here.