Moving Trends of $150K+ Earners: Which Cities Dominate the List

Contrary to the common belief that America’s richest individuals flock exclusively to sun-soaked southern states, new data shows their migration patterns are more diverse. While Florida features prominently, affluent migrations are spreading across various regions of the U.S.

In 2023, the Deltona-Daytona Beach-Ormond Beach area in Florida led the nation with a staggering 171% net increase in high-income residents. Following closely, Texas’ College Station, home to Texas A&M University, saw a 132% rise in wealthy newcomers.

Despite recent reports of an exodus, California also saw gains, with Santa Maria securing the third spot by attracting 127% more affluent households. Another Florida hotspot, the North Port-Sarasota-Bradenton area, ranked fourth, experiencing a 68% growth in high-income residents.

In the Midwest, Ann Arbor, Michigan—home to the University of Michigan—claimed the fifth position, registering a 63% net increase in wealthy residents. Other cities rounding out the top 10 included Provo, Utah (40%); Akron, Ohio (35%); Austin, Texas (34%); Knoxville, Tennessee (33%); and Fresno, California (32%).

Interestingly, these trends differ from broader national moving patterns. The analysis revealed that only 6.5% of the country’s wealthiest households moved in 2023, compared to 9% of those in the lowest income bracket. Of those who did relocate, over half stayed within the same county, but high-earners were more likely than others to cross state lines, with 19% moving to a new state.

The reasons for these moves vary significantly from middle-class motivations. While affordable housing drives many Americans to relocate, only 6% of high-income movers cited this as a factor. Instead, 18% sought better or newer homes, and career changes accounted for 12% of moves among the affluent.

Though an influx of wealthy residents can boost local economies and tax revenues, it can also lead to rising housing costs, potentially pricing out longtime residents. As remote work continues and economic conditions shift, the movement of America’s wealthiest will likely evolve, with lasting effects on the communities they settle in.

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