FiDi residents among most mobile in U.S.

New York /
Feb.February 25, 2013 03:30 PM

The Financial District may be known for its movers and shakers, but in fact, the neighborhood is home to an outsize number of plain old movers. The bulk of younger, childless, employed individuals — as well as a good share of rental properties and condominium units with flexible subletting policies — in the area make it one of the most mobile neighborhoods in the country, the New York Times reported.

Six of the 20 ZIP codes with the highest mobility measure — an index of the number of residents who live in the same home as they did the year before — were located in the Financial District in 2007 and in 2011, according to a Social Explorer and Queens College analysis of American Community Survey data.

For example, in the Financial District’s 10005 ZIP code, almost 40 percent of residents lived in a different apartment than the previous year; half of residents were between the ages of 25 to 34, and 73 percent did not have kids.

Overall, New York City residents moved less than their U.S. counterparts. An average of 11.4 percent of New Yorkers moved in the last year, compared to 15.4 percent nationally. The Times chalked up the relative stability to the prevalence of subsidized housing and the high cost of moving in the city.

The median rent for a Financial District apartment in the fourth quarter of 2007 came in at $3,116 monthly, appraiser Jonathan Miller told the Times. By the fourth quarter of 2012, the figure increased to $3,450. [NYT]Zachary Kussin


Related Articles

arrow_forward_ios
Silverstein leashes BarkBox for 52K sf at 120 Broadway
Silverstein leashes Bark for 52K sf at 120 Broadway
Silverstein leashes Bark for 52K sf at 120 Broadway
Broad Street Development, Invesco refi 80 Broad for $150M
Broad Street Development, Invesco refi 80 Broad for $150M
Broad Street Development, Invesco refi 80 Broad for $150M
Manhattan rents recover to pre-pandemic levels as new leases slow
Manhattan rents recover to pre-pandemic levels as new leases slow
Manhattan rents recover to pre-pandemic levels as new leases slow
Annual contract activity comparisons are starting to look normal again
Residential market picks up in Brooklyn and Manhattan, sinks in suburbs
Residential market picks up in Brooklyn and Manhattan, sinks in suburbs
Daniel Boulud and the Beekman Hotel (Getty, GKV Architects)
Daniel Boulud replacing iconic Augustine with new French bistro
Daniel Boulud replacing iconic Augustine with new French bistro
WhyHotel opening living space at Rudin’s 110 Wall Street
WhyHotel opening living space at Rudin’s 110 Wall Street
WhyHotel opening living space at Rudin’s 110 Wall Street
Ron Burkle’s $155M play on Wall Street: American Stock Exchange HQ
Ron Burkle’s $155M play on Wall Street: American Stock Exchange HQ
Ron Burkle’s $155M play on Wall Street: American Stock Exchange HQ
195 Broadway in Manhattan NYC, Orchard Technologies CEO Court Cunningham and L&L Holding Company CEO David Levinson (Google Maps, Orchard, L&L)
Orchard Technologies leases 107K sf at L&L’s 195 Broadway
Orchard Technologies leases 107K sf at L&L’s 195 Broadway
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...