The Greater Boston Chamber of Commerce Foundation commissioned the 2026 Young Residents Survey, which revealed that more than a quarter of Bostonians (26%) between the ages of 20 and 30 say they plan to leave the metro in the next five years—a share the organization calls “distressing.” This indicates that Boston is facing a mass exodus of young residents who are being squeezed out by rising housing costs driving them toward more affordable markets.
More than a quarter of Bostonians (26%) between the ages of 20 and 30 say they intend to leave the metro in the next five years, according to the 2026 Young Residents Survey, which was commissioned by The Greater Boston Chamber of Commerce Foundation. The group in the study refers to this percentage as “distressing.” Newcomers, LGBTQ residents, unemployed individuals, students, and single people were found to be more likely to indicate plans to leave Boston, according to the poll.
The percentage of poll respondents planning to leave is comparable to the findings of the 2023 study, which indicated that 25% of people were considering moving three years prior. Some 600 young people from the Greater Boston area, which includes the counties of Suffolk, Norfolk, Middlesex, Plymouth, and Essex, participated in the most recent survey, which was carried out in February and March. According to the results, 78% of respondents stated that rent is a significant factor when determining whether to stay or move, and 72% mentioned being able to purchase a home.
Affordable Housing Nationwide Remains a Priority
Half of survey participants stated that local leaders should prioritize affordable housing as the area struggles with a housing crisis.
“It’s no surprise that housing affordability is a top issue in Boston, especially for the youngest residents who are more likely to be renters,” said Jake Krimmel, Senior Economist at Realtor.com.
According to the most recent Realtor.com monthly housing market trends report, Boston’s real estate market is among the least affordable in the country, with median listing prices rising to $832,500 in April—the fifth-highest among major U.S. metro areas and nearly twice the national median. In March, Boston’s median asking rent was $2,918, the second-highest among the country’s top 50 metro areas, surpassing New York City, San Francisco, Los Angeles, and only ultra-expensive San Jose, California.
According to the most recent Realtor.com monthly housing market trends report, Boston’s real estate market is among the least affordable in the country, with median listing prices rising to $832,500 in April—the fifth-highest among major U.S. metro areas and almost twice the national median.
According to the research, young Bostonians’ prospects have deteriorated due to worries about housing affordability, employment opportunities, and safety; in just three years, life satisfaction fell from 89% to 79%.
A closer look at the 30-page report reveals that 46% of Bostonians who intend to leave the Northeast are heading south; specifically, 23% are considering moving to Southeastern states like Florida, Kentucky, or Tennessee, while another 23% are considering moving to the Southwest, which includes Arizona and New Mexico. Of the respondents who are planning to leave Boston, about half are looking to move within Massachusetts, and the remainder are considering leaving the state.
A closer look at the 30-page research reveals that 46% of Bostonians who intend to leave the Northeast are going south. In particular, some 23% are considering relocating to the Southwest, which includes Arizona and New Mexico, while another 23% are hoping to live in Southeastern states like Florida, Kentucky, or Tennessee.
These states attract debt-ridden college graduates and early-career professionals because they have more inventory and cheaper homes than Massachusetts.
“The region’s affordability continues to be a concern as young residents struggle to seize opportunities that outweigh challenges, like housing and career growth,” said the Chamber of Commerce Foundation. “Competitor states that are more affordable may be appealing to young residents who are eager to find housing to rent or purchase that is more affordable and accessible.”
Experts Weigh In
Jack Gaughan, president of Greater Nashville Realtors and a Nashville Re/Max Broker, assisted a mid-30-year-old Boston transplant in settling down in Nashville.
“He originally moved right around COVID but rented until he decided Nashville was the place he wanted to call home,” Gaughan said.
The broker claims that his client, a native of western Massachusetts who lived in Boston for almost ten years, wanted to invest in a property that was “modern but functional.” In the end, he closed on a four-bedroom house in a hip area of Nashville; to put things in perspective, the median listing price in Nashville was slightly less than $539,000 in April, which is almost $300,000 less than Boston’s. He ultimately closed on a four-bedroom house in a hip area of Nashville.
In April, Nashville’s median listing price was just less than $539,000, which is about $300,000 less than Boston’s. According to Krimmel, the long-term trade-off would be a significant blow to the metro’s economy, even though a youth exodus from Boston may temporarily slow the growth of rent prices.
“Boston’s young people are overwhelmingly high-skilled college graduates who play an important role in the job market, entrepreneurship and innovation scene, and the local service economy, too,” Krimmel said.
Additionally, Krimmel notes that even if tens of thousands of young people moved out overnight in a metro with so many universities, such as Harvard and MIT, there would be tens of thousands of other recent graduates or current students to take their place.
“That’s the root of Boston’s rental market crisis: a seemingly never-ending supply of young, educated renters but never enough supply of rental housing for them,” he said.
Krimmel claims that increasing the availability of all kinds of housing at all price points, both in the urban core and in lower-density suburbs, is the straightforward but seemingly unachievable solution to buck this trend.
To read more, click here.
