One of the stories of the COVID-19 pandemic is the massive migration of people triggered by work-from-home policies. Millions of people no longer had to go to company offices. Much of this migration was from America’s large and expensive cities to areas inland or parts of the South. Phoenix, Tampa and Miami were among the favored places.
Based on new information, the places people abandoned have become clear. At the top of that list is the state of New York. Census Bureau data show that 545,598 people left the state in 2022. That is equivalent to the population of Baltimore. About 300,000 people moved to New York during the same period, which cut the net loss.
Of the people who left, 91,000 moved to Florida. About 75,000 moved to nearby New Jersey and 50,000 to Connecticut. Another 45,000 moved to Pennsylvania and 30,000 to Texas. Finally, about 30,000 moved to California. (Where people from New York are moving to the most.)
What the Census Bureau data do not show is why. That leaves a few guesses.
New York has among the highest tax rates in America. New York’s state income tax can be over 10%. Florida and Texas do not have state taxes. Several large financial institutions moved their headquarters to Florida over the past three years. Nearby Connecticut and New Jersey also have lower tax rates.
New York ranks third highest among all states based on cost of living. Only Massachusetts and California have higher levels. Florida ranks only 31st, and Pennsylvania ranks 27th highest.
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