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Home News

Large Cities Recover From the Pandemic At A Varying Pace

Aayat AlibyAayat Ali
June 21, 2021
in News
Reading Time: 1 min read
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Large Cities Recover From the Pandemic At A Varying Pace

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States that were significantly impacted by the pandemic are not seeing a mass exodus, but recovery will look different across various large cities.

For instance, analysts from Placer.ai call the respective 2.5% and 2% population dip that New York and California experienced from May 2019 to May 2021 “a limited loss.”

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However, major cities like New York City and San Francisco have seen month-over-month decreases over the past year. San Francisco in particular could see noteworthy outcomes.

“While these are not massive population shifts, even small changes in a highly competitive professional market like San Francisco can be hugely significant,” Ethan Chernofsky, VP of Marketing at Placer.ai, wrote in an analysis from last month. “The spread of potentially high-skilled professionals who are in ever increasing demand may create opportunities for businesses centered in these other cities or add further fuel to a growing ‘work from anywhere’ trend.”

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On the other hand, the future is looking more promising for New York. Data from Placer.ai finds that a dip in rental prices is bringing those living in outer boroughs into the heart of the city.

According to Chernofsky, this can “have major implications for retail, and actually deepen a city like New York’s role as a ‘center of orbit.’”

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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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