Study: Young Wealthy Professionals Flee NY, CA, DC

  • A recent study by Smart Asset found that people under 35 years old with a minimum adjusted gross income of $100,000 are moving out of New York, California, and Washington, D.C.
  • Between 2019 and 2020, New York saw the most wealthy young people move away, with a net outflow of 15,788 professionals, while in California, the net outflow of these young professionals totaled 7,960.
  • Proportional to population size, Washington, D.C., had the most wealthy young people leave.
  • Texas and Florida are the most popular spots for financially successful young people to move.