Sep 26, 2011 5:09 PM GMT
As the exodus of taxpayers from the Empire State1 continued during the past decade, which other states gained the most at New York’s expense? And how were migration patterns affected by changing economic conditions?
- Between 2000 and 2009, nearly 60 percent of the New York out-migrants moved to southern states—with Florida alone drawing nearly one-third of the total. Thirty percent moved to New Jersey, Pennsylvania and Connecticut.
- Migration slowed after real estate values peaked in 2006 and dropped very sharply after the recession began in 2007. Florida accounted for 35 percent of New York’s net migration loss in 2005—but by 2009, its share had dropped to 11 percent. That year, for the first time on record, New York lost more residents to North Carolinathan to Florida.
- Taxpayers who left New York State had average incomes 22 percent higher than those moving into New York in the most recent year for which data are available.