Study: Florida Gained the Most High Income Households Last year

Florida is by far the top state where high income households are moving to, according to a recent analysis.

SmartAsset analyzed IRS data from the 2021-2022 tax year for the study.

Florida had a net inflow of 29,771 high-income households during the period. That includes 46,874 arriving high-income households, and 17,103 moving elsewhere.

The average income of high-earning arrivals was $907,013. High income households departing Florida earned a more modest $294,189.

 

 

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Anonymous
21 days ago

Hopefully this will attract more companies to make the move to Miami. We sure need more high paying jobs!

Anonymous
20 days ago

We need big pharma here. That’s where the money is at.

WannaBeLandlord
21 days ago

29,771 households each average earning $907K a year. Assume $100,000 of discretionary spending per household in a given year. That means $2.9771 Billion of throw around money migrated to Florida just in 1 year

Median
21 days ago

What’s the median income? The $900,000 average is high, but couldn’t be skewed by just a few really high net work indviduals, such as Jeff Bezos or Ken Griffen.

Cover the Podiums
20 days ago

I don’t think so. It’s income, not net worth.

Saskatoon
17 days ago

Very true.
For one thing, billionaires work very hard to have as little taxable INCOME as possible.
Secondly, 30,000 is a pretty big data set for this excercise.

Bandit
21 days ago

This means nothing to the median Miami resident except that the cost of living will continue to rise and wages will remain low.

Saskatoon
17 days ago

Tough to really say for sure.
Maybe the average and below average person will be ill equipped to benefit from such an important impact.

For instance, a public school teacher has a Union Contract that won’t change much.

The owner and all their employees who are mowing lawns in Coral Gables and Pinecrest will raise their income 20% plus.

Anonymous
21 days ago

Thank you DeSantis!

Anonymous
21 days ago

Miami Winning

Dalron J.
20 days ago

That’s an absurd number. Florida is 3.6x higher than the 2nd place state.

Voltaire
18 days ago

Michelle O mother’s will be “suspicious of those folks who took more money than they needed”!

Voltaire
18 days ago

and are moving to Florida!!😎😊!

Voltaire
18 days ago

said the daughter that has 3 multimillion houses ( one at the edge the water, global warming??) and a 100 million contract with Netflix 😏!!

Anonymous
20 days ago

Since they eliminated the unfair SALT tax deductions, they started leaving high tax states. We’ll run low tax states are growing.

Cover the Podiums
20 days ago

Is this w2 income? Because a business can generate $1 million easy and only have a margin of 10%

Saskatoon
17 days ago

The study is looking at Household Income. That is Income from the individuals working in a Household.
The people studied may also own a business, but the Household Income will only reflect the K-1, salary, or 1099 income in the household.

Suavecito
20 days ago

Lots of haters posting here . If you don’t like Florida, go back to where you came from