“More than 600,000 people leaving New York and California for lower-taxed states during the pandemic,” CNBC wealth editor Robert Frank reported.
“That’s according to Census data. California lost 300,000 residents between April of 2020 and July of 2021. New York lost a net 365,000 people, about two percent of its total population,” he added.
Illinois ranked third in the report, losing over 114,000 residents.
Where did residents from New York and California move? The report did not reveal the exact states where residents relocated but noted an important shift among the “winners” of population growth during the pandemic.
“Now the biggest winners, not surprisingly, were Texas and Florida, which have of course no income taxes. Texas gaining 382,000. Florida adding 243,000.”
In addition, the report showed Arizona ranked third, gaining more than 124,000 residents.
“Now people move for many reasons, lower housing prices, lower cost of living with remote work, their families may be there, but there is a continued shift from high tax to low tax states,” Frank added.
The top three states in the study that lost residents during the pandemic are all led by Democrat governors. The top three states in the study that gained the most residents are all led by Republican governors.
Moving truck company U-Haul reported last week that, “California remained the top state for out-migration, but its net loss of U-Haul trucks wasn’t as severe as in 2020. That can be partially attributed to the fact that U-Haul simply ran out of inventory to meet customer demand for outbound equipment.”
The article added, “California is 50th and Illinois 49th on the list for the second consecutive year, indicating those states once again witnessed the largest net losses of one-way U-Haul trucks.”
In contrast, Texas ranked number one as the top moving destination, according to U-Haul.