Wealthy Americans Are Fleeing From These 10 States

Many wealthy Americans are self-employed business owners who have the freedom to live wherever they choose — especially in an increasingly digital world. If they’re not tethered to a particular place, these Americans can choose to relocate for business incentives, tax benefits or simply for a better quality of life.

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To find the states wealthy Americans — defined as households earning $200,000 annually or more — are leaving, SmartAsset examined the latest IRS data. Here are the top places the wealthy are moving out of .

California

• Net inflow of high-earning households: -24,670
• Number of $200K+ households moved in: 24,205
• Number of $200K+ households moved out: 48,875

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New York

• Net inflow of high-earning households: -12,040
• Number of $200K+ households moved in: 17,829
• Number of $200K+ households moved out: 29,869

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Illinois

• Net inflow of high-earning households: -9,292
• Number of $200K+ households moved in: 7,071
• Number of $200K+ households moved out: 16,363

Massachusetts

• Net inflow of high-earning households: -4,392
• Number of $200K+ households moved in: 7,418
• Number of $200K+ households moved out: 11,810

New Jersey

• Net inflow of high-earning households: -3,863
• Number of $200K+ households moved in: 11,798
• Number of $200K+ households moved out: 15,661

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Pennsylvania

• Net inflow of high-earning households: -2,417
• Number of $200K+ households moved in: 8,533
• Number of $200K+ households moved out: 10,950

Maryland

• Net inflow of high-earning households: -2,375
• Number of $200K+ households moved in: 6,300
• Number of $200K+ households moved out: 8,675

Virginia

• Net inflow of high-earning households: -2,375
• Number of $200K+ households moved in: 10,316
• Number of $200K+ households moved out: 12,691

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Minnesota

• Net inflow of high-earning households: -1,784
• Number of $200K+ households moved in: 3,145
• Number of $200K+ households moved out: 4,929

Washington

• Net inflow of high-earning households: -1,579
• Number of $200K+ households moved in: 11,814
• Number of $200K+ households moved out: 13,393

Data is sourced from SmartAsset and is accurate as of July 30, 2024.

This article originally appeared on GOBankingRates.com : Wealthy Americans Are Fleeing From These 10 States