Still believe that Florida is just a place for retiring New Yorkers? Then think again.
According to a recent research by SmartAsset, which evaluated American regions based on net migration, the Sunshine State is apparently the top place in the U.S. for attracting and maintaining the young and wealthy – including New York City yuppies.
Based on the most current publicly available IRS data from 2021, the financial website identified the states that net the most young professionals, aged 26 to 35, who make at least $200,000 per year in adjusted gross income.
In 2021, it appears that 3,391 high-earning young individuals relocated to Florida, whereas 1,216 of them departed – leaving a net migration of 2,175 affluent young people in the state.
Texas, which came in second, had the second-largest influx of such immigrants, with 4,048 coming there in a single year. However, the Lone Star State also had a significant exodus of young residents – more than 2,000 taxpayers -, leading to an overall net migration of 1,909.
Third-placed New Jersey saw a net gain of 1,048 new wealthy young professionals in the same year, despite the fact that wealthy residents of all ages usually departed the state at a high pace.
And what about New York? In 2021, approximately 4,000 young wealthy taxpayers relocated to the Empire State, which still lost more than 9,000 members of the same group, placing them at the bottom of the list for the young and the wealthy.
Here’s the complete top 10 of most attractive states for high-earning youth:
Florida (+3,391) (-1,216) 2,175
Texas (+4,048) (-2,139) 1,909
New Jersey (+3,311) (-2,263) 1,048
Colorado (+1,681) (-927) 754
North Carolina (+1,476) (-755) 721
Connecticut (+1,404) (-744) 660
Washington (+2,660) (-2,196) 464
Tennessee (+868) (-427) 441
Arizona (+832) (-511) 321
S. Carolina (+601) (-283) 318
