Top 10 states where wealthy Gen Z is moving
While the members of Gen Z haven't had much time to move up the career ladder and accumulate wealth, some have broken out into the IRS's "high-earners" territory early in their lives.
This select group earns $200,000 or more per year, and due to their age and income, they may be more prone to moving for economic and lifestyle opportunities than some older counterparts. With a longer time frame for careers and investments in front of them, Gen Zers could potentially have a larger lifetime impact on their communities.
With this in mind, SmartAsset ranked U.S. states on where wealthy Gen Zers are moving to and from the most, based on the latest IRS data.
1. New York
- Net inflow of wealthy Gen Z households: 773
- Wealthy Gen Z households that moved in: 1262
- Wealthy Gen Z households that moved out: 489
- Total Gen Z households earning $200k+: 5417
- Percent of wealthy households that are Gen Z: 0.74%
2. Florida
- Net inflow of wealthy Gen Z households: 89
- Wealthy Gen Z households that moved in: 288
- Wealthy Gen Z households that moved out: 199
- Total Gen Z households earning $200k+: 1868
- Percent of wealthy households that are Gen Z: 0.28%
3. Tennessee
- Net inflow of wealthy Gen Z households: 33
- Wealthy Gen Z households that moved in: 66
- Wealthy Gen Z households that moved out: 33
- Total Gen Z households earning $200k+: 365
- Percent of wealthy households that are Gen Z: 0.21%
4. Colorado
- Net inflow of wealthy Gen Z households: 24
- Wealthy Gen Z households that moved in: 105
- Wealthy Gen Z households that moved out: 81
- Total Gen Z households earning $200k+: 553
- Percent of wealthy households that are Gen Z: 0.22%
5. Texas
- Net inflow of wealthy Gen Z households: 18
- Wealthy Gen Z households that moved in: 291
- Wealthy Gen Z households that moved out: 273
- Total Gen Z households earning $200k+: 2393
- Percent of wealthy households that are Gen Z: 0.28%
6. Arizona
- Net inflow of wealthy Gen Z households: 14
- Wealthy Gen Z households that moved in: 79
- Wealthy Gen Z households that moved out: 65
- Total Gen Z households earning $200k+: 537
- Percent of wealthy households that are Gen Z: 0.26%
7. Mississippi
- Net inflow of wealthy Gen Z households: 10
- Wealthy Gen Z households that moved in: 10
- Wealthy Gen Z households that moved out: 0
- Total Gen Z households earning $200k+: 72
- Percent of wealthy households that are Gen Z: 0.18%
8. Nevada
- Net inflow of wealthy Gen Z households: 4
- Wealthy Gen Z households that moved in: 51
- Wealthy Gen Z households that moved out: 47
- Total Gen Z households earning $200k+: 272
- Percent of wealthy households that are Gen Z: 0.32%
9. The following states tied for ninth, with no net movement in the wealthy Gen Z cohort:
Montana:
- Total Gen Z households earning $200k+: 62
- Percent of wealthy households that are Gen Z: 0.20%
- Maine:
- Total Gen Z households earning $200k+: 24
- Percent of wealthy households that are Gen Z: 0.07%
Vermont:
- Total Gen Z households earning $200k+: 20
- Percent of wealthy households that are Gen Z: 0.10%
South Dakota:
- Total Gen Z households earning $200k+: 50
- Percent of wealthy households that are Gen Z: 0.20%
Wyoming:
- Total Gen Z households earning $200k+: 27
- Percent of wealthy households that are Gen Z: 0.17%
West Virginia:
- Total Gen Z households earning $200k+: 19
- Percent of wealthy households that are Gen Z: 0.08%
North Dakota:
- Total Gen Z households earning $200k+: 38
- Percent of wealthy households that are Gen Z: 0.16%
Alaska:
- Total Gen Z households earning $200k+: 30
- Percent of wealthy households that are Gen Z: 0.13%
- Florida attracts wealthy Gen Zers, along with others. Florida, the most preferred destination for wealthy millennials and boomers, is second-most preferred among wealthy Gen Z households, despite a net gain of only 89 of such households.
