The top 18 states rich millennials are moving to

Hanna Lassen/Getty ImagesRich millennials like to live in states on the coast.

Rich millennials are on the move.

SmartAsset recently used IRS data from the 2015 to 2016 tax year to take a look at the states wealthy millennials are moving to. It defined rich millennials as those younger than 35 who have an adjusted gross income of $US100,000 or more. SmartAsset ranked each state by net migration, which it determined by subtracting the number of millennials moving out of the state from the number of millennials moving into the state.

As it turns out, rich millennials crave a coastal lifestyle – seven of the top 10 states millennials are moving to are on the East Coast or West Coast. And the Northeast isn’t popular among rich millennials: Only four states in the region – New Jersey, New Hampshire, Maine, and Vermont – rank among the top states rich millennials are moving to.

Below, see the top 18 states attracting rich millennials. We arrived at this list by including all states in SmartAsset’s findings that have a positive net migration – the states more rich millennials are moving into than out of.


18. Kansas — Wichita has been undergoing a downtown renovation over the past decade, attracting urban-dwelling millennials.

Sean Pavone/Shutterstock

Number of millennials moved in: 1,201

Number of millennials moved out: 1,195

Net migration: 6

Source: Smart Growth America, The Wichita Eagle


17. Vermont — Vermont recently offered Americans up to $US10,000 to move to the state and work remotely.

SNEHIT/Shutterstock

Number of millennials moved in: 232

Number of millennials moved out: 200

Net migration: 32

Source: CNN


16. Hawaii — The Aloha State is a science hub, conducting much of the nation’s climate and astronomy research.

Shutterstock

Number of millennials moved in: 647

Number of millennials moved out: 605

Net migration: 42

Source: SmartAsset


15. Montana — Montana yields many opportunities for entrepreneurs and is close to nature, providing a lifestyle many can’t find in big cities.

Gary C. Tognoni/Shutterstock

Number of millennials moved in: 371

Number of millennials moved out: 312

Net migration: 59

Source: ABC Fox Montana


14. Maine — Through its Educational Opportunity Tax Credit program, Maine helps college-graduate residents pay off their student debt.

Sean Pavone/Shutterstock

Number of millennials moved in: 361

Number of millennials moved out: 264

Net migration: 97

Source: Bustle


13. New Hampshire — New Hampshire is in part attractive to young adults because of its low unemployment rates.

Sean Pavone/Shutterstock

Number of millennials moved in: 913

Number of millennials moved out: 747

Net migration: 166

Source: New Hampshire Union Leader


12. Idaho — Idaho Falls is attracting millennials with its restaurant scene and recreational activities.

Charles Knowles/Shutterstock

Number of millennials moved in: 614

Number of millennials moved out: 398

Net migration: 216

Source: Local News 8


11. Georgia — Atlanta has a strong startup scene, and the city has the third-largest concentration of Fortune 500 companies in the country, from Coca Cola and Delta to Home Depot and Porsche.

Number of millennials moved in: 3,834

Number of millennials moved out: 3,525

Net migration: 309

Source: Inc


10. New Jersey — Located across the Hudson River from New York City, New Jersey offers a more affordable housing alternative for those who work in the city.

f11photo/Shutterstock

Number of millennials moved in: 6,543

Number of millennials moved out: 6,197

Net migration: 346

Source: App


9. Tennessee — Nashville has become a top city for recent college grads, thanks to its growing tech industry and affordable cost of living.

f11photo/Shutterstock

Number of millennials moved in: 2,423

Number of millennials moved out: 2,033

Net migration: 390

Source: Biz Journals, WKRN


8. South Carolina — Charleston was hailed as a “millennial magnet” by USA Today because of its startup economy and arts and restaurant scene.

Sean Pavone/Shutterstock

Number of millennials moved in: 1,695

Number of millennials moved out: 1,392

Net migration: 573

Source: USA Today


7. North Carolina — Raleigh and Charlotte, with their plentiful job opportunities and high pay, are major attractions for millennials.

Sean Pavone/Shutterstock

Number of millennials moved in: 4,572

Number of millennials moved out: 3,786

Net migration: 786

Source: The News & Observer


6. Oregon — Portland has many neighbourhoods, a relatively affordable cost of living, and a booming economy. The city offers plenty of jobs with high salaries away from the competition elsewhere on the West Coast.

Nadia Yong/Shutterstock

Number of millennials moved in: 2,190

Number of millennials moved out: 1,304

Net migration: 886

Source: Business Insider


5. Florida — Miami, Jacksonville, and Tampa are hot cities for millennials; the latter has been dubbed a “city-on-the-rise” for its beach proximity, low unemployment rate, and beer scene.

Courtesy of TripAdvisor

Number of millennials moved in: 6,014

Number of millennials moved out: 5,114

Net migration: 900

Source: 10 News, Curbed, Jacksonville.com


4. Colorado — Millennials have been flocking to Denver for its numerous high-paying jobs, reasonable commutes, and activities. It also gets 300 days of sunshine a year.

photo.ua/Shutterstock

Number of millennials moved in: 4,369

Number of millennials moved out: 2,863

Net migration: 1,506

Source: Denver Post, SmartAsset


3. Texas — Dallas-Fort Worth, Austin, and Houston have become magnets for millennials looking to work for small businesses.

f11photo/Shutterstock

Number of millennials moved in: 10,890

Number of millennials moved out: 9,012

Net migration: 1,878

Source: Chron


2. Washington — Home to the headquarters of Amazon and Microsoft, the Seattle metro area is a thriving tech center.

Sean Pavone/Shutterstock

Number of millennials moved in: 5,729

Number of millennials moved out: 3,809

Net migration: 1,920

Source: The New York Times


1. California — Silicon Valley draws millennials looking to work in the tech industry. And with plenty of national parks and beaches, California has plenty to offer outdoors.

Let Go Media/Shutterstock

Number of millennials moved in: 17,245

Number of millennials moved out: 13,648

Net migration: 3,597

Source: SmartAsset

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