A new SmartAsset study reveals that wealthy Generation Z individuals are leaving California at one of the highest rates in the country.
Researchers looked at tax returns filed in 2021 and 2022 from wealthy households with incomes of more than $200,000 per year and under the age of 26 to determine the ranking.
California was the ninth state to lose the most wealthy Gen Z residents to other destinations. A total of 899 wealthy Gen Z households moved out, while 847 households moved in.
The state also had a net loss of 52 households, according to 2021 and 2022 tax years, the latest information available.
According to the report, California has 9,379 Gen Z households earning $200,000 or more each year, comprising about 0.53% of all wealthy households in the state.
These 10 states lost the most high-earning Gen Z households:
Illinois
Washington
Massachusetts
New Jersey
Pennsylvania
Maryland
Connecticut
North Carolina
California
Michigan
These are the top 10 states wealthy Gen Z individuals are moving to:
New York
Florida
Tennessee
Colorado
Texas
Arizona
Mississippi
Nevada
Montana
Maine
The complete report can be viewed here.
A new SmartAsset study reveals that wealthy Generation Z individuals are leaving California at one of the highest rates in the country. Researchers looked at tax returns filed in 2021 and 2022 from wealthy households with incomes of more than $200,000 per year and under the age of 26 to determine the ranking. California was […]
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