Florida gained more wealth from high-earning newcomers than any other state in 2023, according to newly released data from the Internal Revenue Service.
In 2023, Florida gained $20.65 billion in annual adjusted gross income from tax filers who moved there from another state within the U.S., according to a Realtor.com® analysis of the IRS migration data.
Other states that saw the biggest gains in net income from out-of-state moves included Texas (+$5.5 billion), South Carolina (+$4.1 billion), North Carolina (+$3.9 billion), Tennessee (+$2.8 billion), and Nevada (+$1.5 billion).
Meanwhile, states notorious for high cost of living lost the most resident income through moves to other states, led by California (-$11.9 billion), New York (-$9.9 billion), Illinois (-$6.0 billion), Massachusetts (-$4.02 billion), and New Jersey (-$2.56 billion).
https://www.realtor.com/news/trends/net-income-irs-migration-data-2023/?cid=psc_nyp_syndication_trends_net-income-irs-migration-data-2023