The top-ranking state gained more than 6,000 high-earning millennial households in 2022.
Millennials, born between 1981 and 1996, are set to become the wealthiest generation in US history by 2044 — but where are the group's high earners, who already enjoy far more disposable income and economic freedom than many Americans, taking their money?
The team at SmartAsset wanted to know where wealthy millennials are moving, so they used tax data from 2021 and 2022 to rank the states based on the net migration of households aged 26 to 45 and earning at least $200,000 a year.
Like the country's young and wealthy, more rich millennials are flocking to Florida and Texas than anywhere else in the US. Florida gained 6,188 high-earning millennial households in the year analyzed, while Texas gained 5,151.
The third-most popular state among millennials earning $200,000 or more was North Carolina, which trailed behind with a net migration of 1,970 households.
California lost the highest number of wealthy millennials overall, with a whopping 9,181 households leaving the state in 2022. New York and Illinois followed behind, losing 4,251 and 3,163, respectively.
Via SmartAsset.