Americans earning $200,000 or more are flocking to these 10 states | The Markets Café
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
Friday, September 29, 2023
No Result
View All Result
Subscribe
  • Login
The Markets Café
  • News
  • Politics
  • Markets
    • Stocks
    • Futures
    • Commodities
  • Crypto
    • News
    • Markets
    • NFT
    • DeFi
    • Explained
  • Economy
  • Finance
  • Investing
  • Forex
  • Real Estate
  • Tech
  • VideosHOT
  • Community
  • Charts
  • News
  • Politics
  • Markets
    • Stocks
    • Futures
    • Commodities
  • Crypto
    • News
    • Markets
    • NFT
    • DeFi
    • Explained
  • Economy
  • Finance
  • Investing
  • Forex
  • Real Estate
  • Tech
  • VideosHOT
  • Community
  • Charts
No Result
View All Result
The Markets Café
No Result
View All Result
  • News
  • Politics
  • Markets
  • Crypto
  • Economy
  • Finance
  • Forex
  • Investing
  • Tech
  • Videos
  • Community
Home Finance

Americans earning $200,000 or more are flocking to these 10 states

by Press Room
August 15, 2022
in Finance
102 1
A A
0
21
SHARES
687
VIEWS
FacebookTwitter

Affluent Americans have flocked to Sun Belt states since the pandemic started, with Florida leading the pack by a wide margin, a new analysis reveals.

Looking at migration patterns between 2019 and 2020, personal finance website SmartAsset ranked all 50 states plus the District of Columbia based on the net migration of households earning $200,000 or more.

Of the 10 states with the largest influx of high-earning households, nine are located in the Sun Belt, including the six-highest ranked states, starting with Florida. For this analysis, SmartAsset defines the Sun Belt as the general geographic region stretching across the Southeast and Southwest.

Here’s a look at the top 10 states, as well as the net number of high-earning households added to each state.

  1. Florida: 20,263
  2. Texas: 5,356
  3. Arizona: 5,268
  4. North Carolina: 4,713
  5. South Carolina: 3,967
  6. Tennessee: 2,743
  7. Colorado: 2,624
  8. Nevada: 2,331
  9. Idaho: 2,055
  10. Utah: 1,503

Factors leading to the migration to the Sun Belt include lower taxes and warmer weather, as well as more people retiring during the pandemic. 

Florida was by far the most popular destination, as the inflow of high earners was nearly four times that of Texas, the next highest-ranked state. Four of the top 10 states — Florida, Texas, Tennessee and Nevada — don’t have taxes at the state level.

The gains made in the Sun Belt come at the expense of mostly Northeastern states. The biggest losers were California and New York, with nearly 20,000 high-earners leaving each state. That’s more than twice the amount of households as Illinois, the third-worst ranked state.

However, it’s worth noting that the states at the bottom of the ranking still have a higher-than-average percentage of households earning over $200,000. The 10 lowest-ranked states’ share of high earners averages 8.79%, compared to 6.82% for all tax filers nationally.

And while many of these states have a high cost of living, they also tend to have higher median incomes than Sun Belt states.

To calculate the ranking, SmartAsset examined households with adjusted gross incomes of $200,000 or more, comparing the location reported in their 2019 tax return with the new location reported in their 2020 tax return. Each state was then ranked by the net inflow of high-earning households.

Sign up now: Get smarter about your money and career with our weekly newsletter

Don’t miss: This 33-year-old mom makes $760,000 a year in passive income—and lives on a sailboat: ‘I work just 10 hours a week’

Read the full article here

Related Articles

Finance

The 2024 Land Rover Defender 110 finds a near-perfect balance between off-roader and luxury SUV

September 29, 2023
Finance

Can China’s economy reverse a sluggish 2023 in the last quarter? Here’s what to watch

September 29, 2023
Finance

Bill Ackman believes the 10-year Treasury yield could approach 5% soon

September 28, 2023
Finance

The U.S. is nearing a government shutdown. What that means for stocks and how we’re playing it

September 28, 2023
Finance

UAW says picketing workers are getting hit by cars, having guns pulled on them

September 28, 2023
Finance

Delivering Alpha live updates: Bill Ackman talks struggling stock market, surging interest rates

September 28, 2023

About Us

The Markets Café

The Markets Cafe is your one stope Finance, Politics and bussines news website, follow us to get the latest news and updates from around the world.

Sections

  • Commodities
  • Crypto Markets
  • Crypto News
  • DeFi
  • Economy
  • Explained
  • Finance
  • Forex
  • Futures
  • Investing
  • Markets
  • News
  • NFT
  • Politics
  • Real Estate
  • Stocks
  • Tech
  • Videos

Site Links

  • Contact
  • Advertise
  • DMCA
  • Submit Article
  • Forum
  • Site info
  • Newsletter

Newsletter

THE MOST IMPORTANT FINANCE NEWS AND EVENTS OF THE DAY

Subscribe to our mailing list to receives daily updates direct to your inbox!

  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact

© 2022 The Markets Café - All rights reserved.

No Result
View All Result
  • News
  • Politics
  • Markets
    • Stocks
    • Futures
    • Commodities
  • Crypto
    • News
    • Markets
    • NFT
    • DeFi
    • Explained
  • Economy
  • Finance
  • Investing
  • Forex
  • Real Estate
  • Tech
  • Videos
  • Community
  • Charts

© 2022 The Markets Café - All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.