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Texas is attracting young and rich movers ditching California and New York

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Texas is attracting young and rich movers ditching California and New York


Move aside old, Texas money; nouveau riche is moving to the Lone Star State.

Amid the state’s attempt to snatch the crown as the financial hub of the United States, Texas now ranks second in the country for attracting young and rich people. The state had a net gain of 1,660 new young and rich households based off a study by SmartAsset using 2021 and 2022 data from the IRS.

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Individuals aged 26 to 35 who earn more than $200,000 are considered wealthy, according to the study. Only Florida narrowly beat out Texas with a net gain of 1,786 new young and rich residents.

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Still, it underlines the growing sentiment affluent individuals feel about states like California and New York as both were in the top five for negative net migration. California lost 3,226 young and rich households while 345 young and rich households abandoned New York.

California and New York ranked first and fourth respectively for losing young and rich households.

Between 2010 and 2019, Texas attracted over 25,000 establishments to move to the state. Many have said it’s due to the state’s business friendly climate over issues like taxes. The state has no income tax; a move which may also be attracting the young and rich.

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Half of the other states winning over the latest breed of young money, like Florida, Tennessee and Nevada, also don’t have income tax. Nine states in the U.S. don’t charge income tax and five of them made it into SmartAsset’s top 10 list for young, affluent movers.

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Since rich people have the most to win or lose from charging income tax, it’s likely one of the biggest drivers pushing households to Texas, said SmartAsset’s director of economic analysis Jaclyn DeJohn.

“While this study didn’t include data that pins down exactly what’s driving the shift, there are several economic incentives that may entice the young and rich to move to Texas,” she said. “In particular, the state and local governments do not charge income tax on residents, which may shave off a sizable portion of income taxes for high-income young people living in states that do charge income taxes.”

More companies focusing on big money industries like technology, finances, real estate and more is also a big factor that’s attracting young talent to the state, DeJohn said. Areas like Dallas, Austin and Houston are mostly to credit with gaining corporate relocations like SpaceX, AECOM, CBRE and more.

Winning over the rich and young is a victory for the state economically speaking, Dejohn said.

“Overall, more wealth coming to Texas helps add to the bottom line of local businesses. While no income tax is collected on these newcomers, they do still have an impact on Texas’s tax base via sales, excise and property taxes,” she said. “The age group of incoming wealth also has an impact on which businesses, services and amenities are in demand, potentially leading to changes in supply.”

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Why are Californians moving to Texas and how that might change the state

The young and rich moving to Texas is also a part of a bigger trend of the state’s young workforce growing. Texas is gaining more Gen Z movers than any other state, according to a study from Zillow Group Inc. Plus, it adds to the Dallas’ already existing reputation as a haven for affluent individuals.

Dallas is the 22nd most wealthy city in the world, sixth in the U.S., according to a report from London-based private investment migration consultancy firm Henley & Partners.

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New business relocations, a stock exchange and much more are at the center of Dallas’ next stage of business growth.

A worker climbs aboard a locomotive at a CPKC rail yard Wednesday, Aug. 21, 2024, in Kansas...
Labor dispute stops Canadian freight rails, could cause major economic disruption in U.S.
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All rail traffic in Canada and all shipments crossing the U.S. border have stopped, although CPKC and CN’s trains will continue to operate in the U.S. and Mexico.



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8 convicted of terrorism charges in Texas immigration center shooting sentenced to decades in prison

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8 convicted of terrorism charges in Texas immigration center shooting sentenced to decades in prison


FORT WORTH, Texas (AP) — A demonstrator who shot and wounded a police officer outside a Texas immigration center last July 4 was sentenced to 100 years in federal prison Tuesday, while other protesters accused of having links to antifa were given multiple decades in federal prison.

Benjamin Song was convicted of attempted murder last March after prosecutors say he opened fire and wounded a police officer at the Prairieland Detention Center in Alvarado.

The seven other protesters sentenced Tuesday received prison terms ranging from 30 to 70 years.

“Our issue with this case has always been this isn’t a bunch of terrorists. This is a bunch of kids and young adults who really have a really big heart and really wanted their voice to be heard,” Philip Hayes, Song’s attorney, said outside the federal courthouse in Fort Worth. “It was never intended that anybody get hurt. It was never intended that any shots would be fired.”

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He said his client would appeal the sentencing.

“Song, aside from this day, has had an impeccable life. A former Marine. A good student,” Hayes said. “He had a lot of good qualities that were just ignored. The judge went ahead and gave as much as he could.”

One of the defendants, Daniel Sanchez Estrada, was convicted of corruptly concealing a document and conspiracy to conceal documents. Others pleaded guilty to providing material support to terrorists rather than take their case to trial.

Prosecutors say the eight are members of antifa, a decentralized anti-fascist organization that has become a target of the Trump administration. They have denied any affiliation and maintain they attended the demonstration to show support for immigrants inside the detention center.

President Donald Trump last fall signed an executive order designating antifa a domestic terrorist organization, even though there is no domestic equivalent to the State Department’s list of foreign terror organizations.

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Critics warn the case could have wide-reaching impact on protests given that organizations operating within the U.S. are supposed to be protected by First Amendment free-speech rights.

Short for “anti-fascists,” antifa is not a single organization but rather an umbrella term for far-left militant groups that confront or resist neo-Nazis and white supremacists at demonstrations.

Last week, federal prosecutors charged 15 people with impeding the Trump administration’s immigration crackdown in Minnesota. They claimed the demonstrators were members of antifa who conspired against the federal government to block arrests and deportations by setting up blockades around government buildings and throwing chunks of ice at federal vehicles, among other actions.

Marcelo reported from New York.

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Paxton, Trump adviser’s org win bid to block immigration rule

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Paxton, Trump adviser’s org win bid to block immigration rule

Audio recording is automated for accessibility. Humans wrote and edited the story. See our AI policy, and give us feedback.

A federal judge in Texas blocked a Biden administration rule on Monday that allowed immigration judges to indefinitely close a deportation case against immigrants on the same day Texas sued to stop the rule.

The rule, which was adopted in 2024, allowed immigration judges to close a deportation case after hearing arguments from the federal government and the immigrant in deportation proceedings, especially if the person could qualify for a benefit that allows them to stay in the country legally.

But on Monday, Texas Attorney General Ken Paxton filed a lawsuit in the Northern District of Texas in Wichita Falls to block the rule with U.S. Judge Reed O’Connor, who was appointed by former President George W. Bush.

The lawsuit against the U.S. Department of Justice was also co-filed by America First Legal Foundation, an organization founded by Stephen Miller, a senior adviser to President Trump who has focused on ways to limit both legal and illegal immigration to the country. America First Legal Foundation also previously filed various lawsuits representing Paxton against the Biden administration’s immigration policies, which helped derail President Biden’s immigration agenda in his lone term.

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In this latest complaint, Paxton’s office said in the 43-page lawsuit that the Biden-era rule “effectively grant(s) indefinite amnesty to aliens illegally present in this country.”

Lawsuits usually take several months to years to settle, but in this case O’Connor ruled late on Monday in favor of Texas after the Department of Justice filed its response saying it agreed with Paxton’s office.

Paxton’s office and the DOJ did not respond to immediate requests for comment.

President Trump, in keeping with his campaign promise, has cracked down on immigrants, using many of the federal government’s resources to limit immigration and fast-track deportations, including undocumented people and others who were allowed to be in the U.S. by previous administrations.

O’Connor has been known as conservative leaders’ favorite judge because he has routinely ruled in favor of Paxton, who has strategically filed lawsuits against the Obama and Biden administration.

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The fast-paced end to the rule echoes a similar maneuver conducted by the DOJ and Paxton’s office last year, when the federal agency sued Texas over a law allowing undocumented students to qualify for lower tuition rates at public universities. Hours after the suit was filed, Texas also asked Judge O’Connor to find the law unconstitutional, which he did.

After the law was overturned, legal experts said a state working with the federal government so closely for the swift overturning of a state law was unusual and raised questions about collusion.

The quick resolution to the case late on Monday was heavily criticized by immigration law experts.

“This is madness! Deliberate collusion with a federal judge to rapidly erase regulations without any input from affected parties,” said Aaron Reichlin-Melnick, a senior fellow with American Immigration Council, a group in Washington, D.C., that advocates for immigrants. “It’s clearly an unlawful act by all, and now litigants will have to seek to intervene in the already-completed lawsuit to overturn his actions.”



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US opens probe into fatal Tesla crash into Texas home

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US opens probe into fatal Tesla crash into Texas home


A U.S. agency on Monday ​said it is ‌opening a new special crash investigation into ​the June 19 ​fatal crash of a ⁠Tesla Model 3 ​that struck a Katy, ​Texas, home allegedly using an advanced driver assistance ​system that fatally ​injured a 76-year-old woman.



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