Idaho is one of the top landing spots for high-earning members of a particular generation

Idaho is gaining high-earning millennials at the ninth-highest rate in the country, according to a new study.

Financial insights website SmartAsset used nationwide IRS tax data to study where millennials with an annual household income above $200,000 are moving, and Idaho was one of the top 10 choices.

While 1,067 high-earning millennial households settled in Idaho between 2021 and 2022, only 461 left. Its overall gain of 606 such millennials was the ninth-highest of any state.

STATES WHERE HIGH-EARNING MILLENNIALS ARE MOVING

According to the study, the states seeing the highest influx of high-earning millennials were: (net gain):

• 1. Florida (6,188)

• 2. Texas (5,151)

• 3. North Carolina (1,970)

• 4. Colorado (1,227)

• 5. Tennessee (1,197)

• 6. South Carolina (1,068)

• 7. Georgia (895)

• 8. Arizona (668)

• 9. Idaho (606)

• 10. Nevada (510)

Florida’s net gain of high-earning millennial households was over 10 times more than the Gem State. Those households earn $551,114 per year on average in Florida, and $450,278 in Idaho.

The Gem State also retained approximately 11,997 millennial households making over $200,000 a year. The percentage of high-earning households that are millennials in Idaho is 19.5%.

To determine these rankings, SmartAsset examined the factors leading to millennials’ moving patterns. This includes IRS data for 2021 and 2022 (the most recently available) for households between ages 26 and 45 making $200,000 or more. The net migration of these “high-earning households” was determined by comparing the inflow of qualifying households in each state to the outflow. The average adjusted gross income for each state’s households within these criteria was also considered.

STATES WHERE HIGH-EARNING MILLENNIALS ARE LEAVING

California took first place for the state that high-earning millennials are leaving, with a net loss of 9,181 households, followed by New York and Illinois. Washington’s overall loss of 222 high-earning millennials was the eighth-highest of any state.

Here’s the entire bottom 10 (net loss):

Despite the loss, the Golden State remains one of the top states for high-earning millennials. California retained 589,524 millennial households making over $200,000 a year.