People Are Fleeing America’s 10 Richest States: Here’s How Many Are Leaving

According to the most recent data from the U.S. Census Bureau , the median household income in 2022 was $74,580.

In some states, like, say, Mississippi or Louisiana, the costs of living are substantially lower than the national average. On the other hand, you’ve got a fair amount of states that are much wealthier and typically more expensive to get by in than others.

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With poverty on the rise and millions of Americans cornered into living paycheck to paycheck, many are saying goodbye to life in wealthy states and opting for those that are more affordable.

GOBankingRates recently conducted research to determine the 10 richest states and how many people are moving out of them. Here’s what we found.

You can also check out which states to move to if you want to build future wealth .

Connecticut

• Median household income (all ages): $88,429
• Median household income for ages 65+: $65,053
• Inbound percent: 46.9%
• Outbound percent: 53.1%

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Utah

• Median household income (all ages): $89,168
• Median household income for ages 65+: $63,225
• Inbound percent: 50.2%
• Outbound percent: 49.8%

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Colorado

• Median household income (all ages): $89,302
• Median household income for ages 65+: $63,445
• Inbound percent: 48.7%
• Outbound percent: 51.4%

New Hampshire

• Median household income (all ages): $89,992
• Median household income for ages 65+: $59,946
• Inbound percent: 54.1%
• Outbound percent: 45.9%

Washington

• Median household income (all ages): $91,306
• Median household income for ages 65+: $62,597
• Inbound percent: 47.8%
• Outbound percent: 52.2%

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California

• Median household income (all ages): $91,551
• Median household income for ages 65+: $65,628
• Inbound percent: 42.5%
• Outbound percent: 57.5%

Hawaii

• Median household income (all ages): $92,458
• Median household income for ages 65+: $77,957
• Inbound percent: N/A
• Outbound percent: N/A

Massachusetts

• Median household income (all ages): $94,488
• Median household income for ages 65+: $60,810
• Inbound percent: 43.4%
• Outbound percent: 56.6%

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Maryland

• Median household income (all ages): $94,991
• Median household income for ages 65+: $69,070
• Inbound percent: 48%
• Outbound percent: 52%

New Jersey

• Median household income (all ages): $96,346
• Median household income for ages 65+: $65,988
• Inbound percent: 35.2%
• Outbound percent: 64.9%

Methodology: For this study, GOBankingRates analyzed all 50 states to find the states with the richest and poorest retirees. First, GOBankingRates found the median household income for all ages, the median household income for ages 65 and over, the mean household Social Security income for households that receive Social Security income, total households, total population, and population ages 65 and over — all sourced from the U.S. Census American Community Survey’s B19049 and S0201. For each state, the inbound and outbound moving truck shipments were sourced from the United Van Lines 2023 Annual National Movers Study. The household median income for ages 65 and over was scored and weighted at 1.50, the Social Security income was scored and weighted at 1.00, the percent population 65 and over was scored and weighted at 0.50. All three scores were combined and sorted to show the states with the richest and poorest retirees. All data was collected and is up to date as of Feb. 29, 2024.

This article originally appeared on GOBankingRates.com : People Are Fleeing America’s 10 Richest States: Here’s How Many Are Leaving