Top 10 states Upper-Middle Class families are moving to

Nation/World

HOUSTON (CW39) — Are you considered upper-middle class? Smartasset recently conducted a survey on the Top 10 states upper-middle class families are moving to this year.

Here are the results:

  1. Florida

The net migration of upper-middle-class people to Florida between 2017 and 2018 was 18,876, nearly three times as many as the next closest state.

  1. Texas

Texas saw a net gain of 6,706 upper-middle-class people from 2017 to 2018. The lack of income tax in the Lone Star State may account for this influx.

  1. Arizona

Arizona does have income tax, but it’s among the lower rates in the nation, topping off at 4.50% for incomes higher than $159,000. The net migration of upper-middle-class people to the state from 2017 to 2018 was 6,685.

  1. North Carolina

North Carolina saw a net gain of 6,002 upper-middle-class people over the time period we considered for this study. North Carolina has several big cities, access to many beaches and a flat income tax rate of 5.25%, all of which could be attractive to people with incomes from $100,000 to $200,000.

  1. South Carolina

South Carolina has among the lowest property tax rates in the nation, so high-income earners can buy their dream house without worrying about being overwhelmed by taxes. The state saw an increase of 4,927 upper-middle-class people from 2017 to 2018.

  1. Tennessee

Tennessee is another state that does not tax salaries or wages. The state gained 3,215 upper-middle-class people from 2017 to 2018.

  1. Idaho

Though Idaho has fairly high income taxes, it has low property taxes and is actually one of the best states for homeowners. The state saw a net migration of 2,708 upper-middle-class people between 2017 and 2018.

  1. Nevada

Nevada also offers no income tax, which is a strong incentive for people making higher incomes. The state gained 2,644 upper-middle-class citizens from 2017 to 2018.

  1. Washington

Washington State is another state with no income tax. This factor could be one contributor to the increase in upper-middle-class residents by 2,593 from 2017 to 2018.

  1. Colorado

Colorado gained 2,580 upper-middle-class residents between 2017 and 2018. Those interested in moving there might wish to note that the Rocky Mountain State has a flat income tax of 4.63% and relatively low property taxes.

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