The latest research conducted recently shows an alarming new trend. Young people are leaving the city and moving to suburbs and rural towns. As part of this research, we asked ourselves why so many young New Jersey professionals decide to leave the city?
Leaving the city
Perhaps you are a young professional living in one of the big cities in New Jersey. If so, you have probably seen firsthand exactly what is bothering so many young people in the city. So, what is it that is bothering young professionals? Why are they deciding to leave and move to the suburbs and rural towns?
Well, there are several reasons. The majority of them can be put into one large category and filed under „Financial reasons“. Let us take a look at the factors influencing so many young New Jersey professionals and if you decide to move in a rush, start searching for tips about short notice relocation in NJ.
Affordability
Let’s say that you could move to any part of the state. What would you look for? You are a young professional, earning a starting salary, trying to live the life you want. Finding an affordable place to live in will be a top priority. The fact that many can’t afford to live there is probably the most obvious reason why so many young New Jersey professionals decide to leave the city.
Housing
With 47%, New Jersey has one of the highest rates of millennials still living with there parents. This is because they can’t find affordable housing. The percentage is around 10% higher than in neighboring states. One of the reasons for this is the type of housing available. A majority of the properties are houses intended for a single-family. These houses are often too expensive for young professionals on a starting salary. Big cities in New Jersey seem unable to meet the demand for affordable housing and many young professionals are turning to companies like Ample Moving NJ to help them make a move to the suburbs or smaller towns where they can afford a place to call home.
Taxes
The State of New Jersey is known for its high taxes. It is the ninth most tax-burdened state. This means that large corporations will tend to search for locations with lower taxes and an affordable workforce. This automatically suggests that the amount of jobs on offer is probably higher outside of the big cities. Young professionals are trying to find jobs and will, therefore, follow the jobs on offer. If you are a young professional who has developed their own business and has now decided to move, you should consider how to move your office with ease.
Taxes on their own are not the primary reason that young people are choosing to relocate though, but along with job opportunities, family considerations, and housing affordability, they are one of the triggers for relocating.
Property taxes are also very high and are higher in the big cities than in suburbs and smaller towns. This is one of the reasons young professionals look for housing outside of the cities. New Jersey is not the only place where young professionals are deciding to leave the city. Many people have decided to swap life in New York for life in the countryside. This seems to be a growing trend.
Student debt
A remarkable statistic shows that approximately 43% of New Jersey City high school graduates go on to college in another state. One of the main reasons for this is that those who choose to stay in New Jersey and graduate, end up with approximately $32,000 in student debt once they graduate. This is quite a high figure in comparison to other states in the country. Furthermore, approximately 80% of young professionals who are renting a property at the moment have said that student debt has delayed their attempts at homeownership or made ownership an almost impossible option.
Other factors
Other than just the general affordability of life in the city, there are several other factors that can help young professionals decide on a place to call home. Some of the factors are transport availability, walkability, and connectivity of streets and activities on offer.
Proximity to the big city
Many young New Jersey professionals are now aiming to live in the suburbs, in close proximity to a big city. This is seen as striking a balance between the more affordable, less stressful suburban lifestyle and the job opportunities and activities that a big city has to offer. It is not a surprise then that some 41% of Millenials opt for suburban areas to live in ahead of big cities, rural towns, or villages. If you are a young professional or fall into the „millennial“ age group and are considering moving, make sure that you get an estimate while planning the move so you know exactly how much the move could cost you.
Transport availability
Whilst New Jersey can claim to have one of the largest public transport systems in the country, which includes both intrastate and interstate buses and trains as well as a subway line that runs between New York and New Jersey, it’s transport options still represent a common source of frustration for young professionals. One of their main complaints concerns commute times which are quite long and require that additional time be allocated for commuting when making any plans. Another common complaint concerns the price of public transport which is not cheap, especially if used on an everyday basis.
Walkability and connectivity of streets
Given the frustrations that public transport can give rise to, it is easy to understand why the connectivity and walkability of streets in an area will play a part in attracting the younger generation to an area.
Whatever someone’s personal motivation is for moving, it cannot be denied that being within walking distance from a green market or your friend’s house, or cycling distance from the nearest park or activity center is great. This is what young professionals are looking for but more often than not, these are exclusive areas and the costs of living in such an area are too high for them. In some cases finding such an area in New Jersey is nearly impossible. For this reason, more and more young professionals are choosing to leave the city in favor of suburbs and rural towns. So, if you wondered why so many young New Jersey professionals decide to leave the city, this was a short story to help you decide if you want to move as well.