According to New York City’s IBO, in 2012, there were actually 5 times more moves to Florida than to adjacent Connecticut.
However when breaking the movers into 2 categories: households with real income below and above $500,000, the results really change. New York, New Jersey and Connecticut enjoyed a large increase of high income movers from New York City. The California market share in this category of movers collapsed.
But it is important to recognize that the high wage earners only represent 1.8% of total movers. Florida is still the third most popular destination for movers from NYC who are mere mortals.
Tags: IBO, Independent Budget Office