According to a recent data analysis by the finance technology company SmartAsset.com, "rich young professionals" are flooding to Colorado by the thousands. In fact, researchers found that Colorado is one of the 10 states in the country with the largest net migration gain of "wealthy" young professionals.
The analysis defines rich young professionals as people 35-years-old or younger, that make at least $100,000 per year. Researchers used 2019 and 2020 tax information from the IRS to make the determination.
"To rank the states, we determined each state’s net inflow of rich young professionals. This is the inflow minus the outflow. We then ranked the states according to net inflow in descending order. States losing the most rich young professionals have the largest net outflow while states gaining the most rich young professionals have the largest net inflow," the website said.
In Colorado, a reported 7,306 rich young professionals moved into the state between 2019 and 2020 and 4,665 moved away. The state ultimately ranked fourth overall, with a net inflow of 2,641 rich young professionals.
Texas had the largest inflow in the country with an astounding 15,024 people meeting that criteria moving in, for a net inflow of 3,823. Some of the states with the largest outflows included New York, California, and Illinois.
Find the full analysis, here.
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