Economics/Class Relations

Wealthy Americans are flocking to Florida at four times the rate of any other state

By Chloe Berger Fortune

Known for offbeat felonies, media headline star “Florida man,” swampy weather, Disney adults, and Trump’s recently raided home, Mar-a-Lago, Florida doesn’t always get the best rep.

But the Sunshine State is beloved for its warm weather and lack of state income tax, making it a haven for the wealthy. That’s largely why it’s welcomed more high-earners than any other state, per a new analysis from SmartAsset. The report analyzed IRS data to measure pre-pandemic net migration patterns from 2019 to 2020 among households in the U.S. earning over $200,000 annually.

While some of this cohort moved out of Florida during this time frame, many more moved in, creating a net influx of 20,263 high-income households. That’s nearly four times the number of high-rollers the second most popular place attracted: Texas, which saw a net migration rate of 5,356 households.

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