Wealthy young professionals are on the move, and Florida and Texas are their top destinations.
According to SmartAsset, these states saw the highest net gains of high earners aged 26 to 35 making $200,000 or more annually, with Florida welcoming 2,175 and Texas 1,909.
Meanwhile, New York and California saw the biggest net losses – 5,062 and 4,495 respectively – though both still have the largest overall populations of young high earners.
If you’ve been following PayProp Insights, the popularity of Florida and Texas won’t come as a shock. Both states offer warm weather, no state income tax, and affordable amenity-rich housing options – perfect for young professionals focused on saving and investing while still enjoying a high quality of life.
In fact, many southern states repeatedly ranked among the country’s hottest rental markets throughout the year.
Rounding out SmartAsset’s list of the top 10 states for net gains of high earners are New Jersey, Colorado, North Carolina, Connecticut, Washington, Tennessee, Arizona, and South Carolina.
Property managers in these markets, especially in Florida and Texas, stand to benefit from ongoing demand for premium rentals as well as opportunities to attract long-term, high-earning tenants.
More rental market headlines
Austin, TX emerges as ideal college grad destination – PayProp blog
Seattle landlord sues the city over tenant rules – Rental Housing Journal
Gen Z, millennial investors embracing crypto, real estate, private equity – Fast Company
