According to a recent article published by Fortune, the sunny state is popular for its warm climate and no income tax, making it a haven for wealthy individuals. Largely for this reason, it has taken in more high-income earners than any other state, according to a new analysis from SmartAsset. IRS data was analyzed to measure pre-pandemic net migration patterns from 2019 to 2020 from which we can see that American families earned on average over 200,000 $ per year.
While some left Florida during this period, many moved in, creating a net influx of 20,263 high-income families. That's nearly four times the number of families in seniors in the second most popular place: Texas, which saw a net migration rate of 5,356 families.