A new study puts Florida, Texas and New Jersey at the top.
Instead of moving to or setting down roots in the Big Apple, many young people with high-paying jobs stayed in close proximity and headed across the Hudson. In 2021, the Garden State saw a net migration of 1,048 young high earners with 3,311 people arriving and 2,139 people leaving. “This was the most dramatic reversal from the aggregate trends,” noted the report.
Among the states that lost the most young people with substantial incomes were New York and California, with 5,062 and 4,495 young people exiting, respectively. Still, the two states actually had the highest rate of high-earning young professionals overall. Other states also have significant populations of high-earning young people. In the state of Washington, which, like Texas and Florida, does not levy income tax, 13 percent of all residents earning at least $200,000 fall between the ages of 26 and 35. And over in Washington, DC, more than 16 percent of people in that same age bracket are pulling down a similar amount.
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