Skip to content
Subscriber Only
Business
Economics

Florida Is the Big Winner as the Wealthy Move Out of Northern States

  • Florida nets $17.2 billion from inbound moves vs outbound
  • Connecticut, New York, New Jersey face biggest income drains
1480724728_Miami-Luxury-condos

Photographer: Christina Mendenhall/Bloomberg

Roughly 5 million Americans move from one state to another annually and some states are clearly making out better than others.

Florida and South Carolina enjoyed the top economic gains, while Connecticut, New York and New Jersey faced some of the biggest financial drains, according to a Bloomberg analysis of state-to-state moves based on data from the Internal Revenue Service and the U.S. Census Bureau.