Thread by @ManhattanInst

NEW POLL: We partnered with @SienaResearch to ask high-earning New York City residents about working from home, the city’s cost of living, whether they have considered leaving, and more. @michael_hendrix 1/ manhattan-institute.org/survey-nyc-hig…

Per @cbcny, residents who earn $100,000 or more make up 80% of New York City’s income-tax revenue. This makes #NYC especially vulnerable to tax-base erosion.

Our poll found that 44% of high-income residents have considered relocating outside the city in the last four months. 2/

Is #NYC on the right track?

Of high-earning New Yorkers, 38% believe that the city is headed in the wrong direction, compared with 53% who believe that it is on the right track.

For the most part, both groups believe that New York was on the same track prior to the pandemic. 3/

Quality of life in #NYC?

Only 38% of respondents said that the quality of life now was excellent or good, a drop by half, from 79% before the pandemic. 4/

Some 80% of #NYC high-earners believe that economic activity in the city will take longer than a year to recover. 5/

Working from home?

65% said that working from home will be the new normal for many New Yorkers, while 30% think that people will eventually return to working as they did before the crisis. 6/

Considered relocating?

The cost of living, more than any other factor, contributes to the likelihood of leaving New York City.

A total of 69% cite cost of living as a reason to leave the city; that figure is even higher among black (77%) and Hispanic (79%) respondents. 7/

On challenges for New York City: 75% of respondents cited income taxes; 72% pointed to traffic; 68% to the reliability of public transportation.

The greatest concern of all was the likelihood of coronavirus spread, with 90% saying that it posed a problem for them. 8/

Find more interesting results from our poll of high-earning New Yorkers (conducted by @SienaResearch), with a summary by @michael_hendrix. /end manhattan-institute.org/survey-nyc-hig…