Wealthy millennials primarily relocate to Florida and Texas, while California loses the most.
SmartAsset's analysis reveals that wealthy millennials, defined as those earning over $200,000 annually, are relocating primarily to Florida and Texas, which gained 6,188 and 5,151 households, respectively. Conversely, California lost the most, shedding 9,181 households. Colorado and Georgia are also popular, with 87% of their high-income net gains being millennials. Utah boasts the highest percentage of wealthy millennial households at 25%.
October 10, 2024
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