Analysis: ‘Rich’ Gen X’ers are moving to NH too
On heels of millennial study, state ranks 17th nationally as their destination
Just a couple of weeks after a study showed that well-to-do millennials are choosing New Hampshire to settle down in, a report from the same company finds that older Gen X’ers are partial to the Granite State as well.
But while New Hampshire is nowhere near as popular a destination for Gen X’ers as states in the South and West, it, Maine and Delaware are the only Northeastern states to crack the top 20 on a list compiled by personal finance technology company SmartAsset.
According to an analysis by SmartAsset, New Hampshire ranks 17th in the country as the state where more “rich” Gen X’ers are moving to, rather than leaving. The analysis defines “rich” Gen X’ers as people between 35 and 54 who reported earnings of at least $100,000 in adjusted gross income on their 2017-2018 tax filings.
Using data from 2017 and 2018, the analysis measured the net migration of the millennials by calculating the number of those who moved into the state as opposed to moving out of it.
According to the analysis, 1,951 rich Gen X’ers moved into the state in 2017-18 and 1,619 moved out, for a net in-migration of 332.
Among New England states, New Hampshire was behind Maine, which was 15thwith a net in-migration of 433. The only other state with a positive net in-migration was Vermont at No. 22, with 80. Rhode Island (No. 30, -136), Connecticut (No. 42, -729) and Massachusetts (No. 47, -1,351) all lost more than they gained.
The top states for moving Gen X’ers were: No. 1 Florida, with a net in-migration of 9,283; No. 2 Texas (5,712); and No. 3 North Carolina (3,385); No. 4 Arizona (2,646) and No. 5 Tennessee (2,329).