Western Region Research Insights: The Great Pandemic Migration… and Return

One of the enduring storylines to emerge from the Coronavirus crisis is that of a massive migration out of urban areas—particularly expensive global gateway markets. Early in the pandemic, some pundits questioned whether cities like New York or San Francisco would survive. Over the course of the past year, this narrative was often conflated with longer-term trends of Sunbelt migration and the movement of companies and high-wealth individuals to tax haven states. But our examination of the data suggests a far more nuanced story.