Young, rich workers are fleeing New York and California—here's where they're going
Florida is the top state attracting and retaining young, wealthy professionals, followed by Texas and New Jersey, according to a study by SmartAsset.
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Posted 8/27/2023, 2:00:01 PM
cnbc.com
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The real estate market in the Northeast and Mid-Atlantic US is thriving due to strong job markets, affordability, and a high quality of life, with New Jersey, Delaware, Maryland, and Pennsylvania leading the pack in terms of hot real estate markets.
High-earning millennials are flocking to Florida and Texas, as these states with no income tax are the top destinations for young professionals earning at least $200,000 a year, while New York and California experience the biggest net losses in this demographic.
A recent study reveals that young and affluent residents are leaving California, New York, and Illinois, with Florida and Texas being the top destinations for relocation among this demographic.