Kamaron McNair
CNBC
A $200,000 household income is more than most people earn across the U.S. In fact, just 12% of U.S. households earn $200,000 or more annually, according to Census Bureau data.
While that may be nearly enough for most Americans to feel comfortable financially, $200,000 will inevitably go further in places where the cost of living is generally lower.
It may even motivate some people to move. While people move for several reasons, cost can certainly be a major factor. Recently, even high-earning families seem to be flocking to lower-cost states, especially in the South.
Between 2020 and 2021, Florida saw the largest net migration of high-earning residents, with over 40,000 households earning $200,000 or more moving to the Sunshine State, according to new research from SmartAsset, which looked at data from the IRS.
Florida lost 12,567 high-earning households during the same period, bringing its net migration to 27,567 households.
It’s not the only Southern state to see its affluent population grow. Five of the 10 states that saw the largest net migration of high earners are in the South.
Here’s a look at the 10 most-popular states high earners flocked to between 2020 and 2021.
