Florida had the highest positive net migration of any state for the second year in a row, adding over 249,000 people to its population in 2022.
The state’s economy boomed during and after the pandemic as more high-income households moved to the region to avoid state income taxes and find better weather. Additionally, the influx of high-income individuals and companies flocking to the region from areas like New York and California has made it the epicenter of this “great wealth migration” trend.
Following the pandemic, Florida reported $39.2 billion in wealth flowing into the state. To put it into perspective, that’s the equivalent of $4.48 million per hour.
Miami-Dade and Palm Beach counties were the top two counties for income inflow, with $7.4 billion and $7.2 billion, respectively.
In 2022 New York was second in the nation for negative net migration — that’s more residents leaving the state than moving here — according to new data from the U.S. Census Bureau, once again highlighting the state’s struggle to grow its population.
Between 2021 and 2022, the state’s net migration was -244,137 — with more than 545,000 residents leaving for other places and just over 301,000 moving to the state.
The only state that had a lower net migration rate was California, which had -341,866 in net migration, according to the Census data, collected through its annual American Community Survey.
Where did New Yorkers who left the state move to?
A lot of them moved to the state that replaced New York as the third-most populous state in the nation: the Sunshine State.
More than 90,000 New York residents moved to Florida in 2022, according to U.S. Census Data. Florida also had the biggest net gain of New Yorkers — nearly 70,000 in total.
In total, New York had negative net migration to 35 states.
Another year of negative net migration for New York adds more grist to the mill for people who say the state can’t compete with other places when it comes to its business climate, its tax rates — and, of course, its cold and snowy winters. Plus, any decline in population, especially New York residents of working age, also hurts the already tight labor pool in the state.
In total, 32 of the 50 states had positive net migration.