Via Economic Policy Journal

More than 300,000 New Yorkers have bailed from the Big Apple in the last eight months, new stats show, reports The New York Post.

City residents filed 295,103 change of address requests from March 1 through Oct. 31, according to data The Post obtained from the US Postal Service under a Freedom of Information Act request.

Since a single address change could represent an entire household, it means far more than 300,000 New Yorkers fled the five boroughs.

Now, this what is interesting, the majority of those who fled appear to have stayed in the crowded region just beyond NYC city limits.

Top destinations for New Yorkers who left the city between March and October, with the number of change of address requests for each ZIP code:

1. East Hampton, NY, 11937: 2,769

2. Jersey City, NJ, 07302: 1,821

3. Southampton, NY, 11968: 1,398

4. Hoboken, NJ, 07030: 1,204

5. Sag Harbor, NY, 11963: 961

6. Scarsdale, NY, 10583: 812

7. Water Mill, NY, 11976: 577

8. Greenwich, CT, 06830: 558

9. Yonkers, NY: 10701, 567

10. Jersey City, NJ, 07310: 434

11. Port Washington, NY, 11050: 414

12. Westhampton Beach, NY, 11978: 409

13. Princeton, NJ, 08540: 395

14. Woodstock, NY, 12498: 392

15. New Canaan, CT, 06840: 389

16. Great Neck/Manhasset, NY, 11021: 380

17. Hampton Bays, NY, 11946: 344

18. Darien, CT, 06820: 326

19. Mount Vernon, NY, 10550: 325

20. Long Beach, NY, 11561: 323

This suggests a flight from the deteriorating city and the most certain higher taxes to come rather than a flight from the region.

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Of note, most of those fleeing are from the high rent districts.

Top ZIP codes New Yorkers exited between March 1 and Oct. 31, 2020, with the number of change of address requests for each area:

1. Upper West Side, 10023: 3,368

2. Upper West Side, 10025: 3,000

3. Murray Hill, 10016: 2,889

4. Upper West Side, 10024: 2,708

5. Chelsea/Greenwich Village, 10011: 2,520

6. Upper East Side, 10128: 2,165

7. Downtown Brooklyn, 11201: 1,836

8. Gramercy/East Village, 10003: 1,677

9. Upper East Side, 10028: 1,631

10. Midtown East, 10022: 1,410

11. Midtown West, 10019: 1,484

12. Upper East Side, 10021: 1,506

13. Chelsea, 10001: 1,222

14. West Village, 10014: 1,192

15. Park Slope, Brooklyn, 11215: 1,006

16. Rose Hill/Peter Cooper Village, 10010: 1,002

17. Midtown, 10018: 987

18. Tribeca/Chinatown, 10013: 899

19. Midtown, 10036: 837

20. East Village, 10009: 728

This is a massive amount of high taxpayers leaving the city, regardless of what their primary reason for leaving the city is.

There is no way the city is going to be able to make up this loss of tax revenue.

RW