Report: Young, Rich Professionals Leaving New York More Than Any Other State
Young professionals across the country are staying close to home unless they live in New York State, according to a new study by SmartAsset. More than 28,000 young working professionals moved out of New York during a two-year period.
The online financial company that creates content for consumers interested in the national marketplace tracked where "rich young professionals" are moving to and leaving. The study tracked individuals younger than 35 with an adjusted gross income of at least $100,000. The workers' inflow and outflow of states were tracked between 2019 and 2020 with the goal of finding out which states are losing and gaining the most people.
New York State had a net migration loss of 15,788 tracked individuals during this time, higher than any other state. California was the next closest state in terms of net migration loss with 7,960 people leaving.
Both Texas and Florida, two states without an income tax, saw the most professionals moving in over the two years with Texas seeing a net gain of 3,823 people and Florida gaining 3,411 people, the study showed.