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SmartAsset recently used data from the IRS 2015 to 2016 tax year to take a look at the states wealthy millennials are moving to. It defined rich millennials as those individuals younger than 35 who have an adjusted gross income of $100,000 or more. SmartAsset ranked each state by net migration, which it determined by subtracting the number of millennials moving out of the state from the number of millennials moving into the state.
Turns out, rich millennials crave a coastal lifestyle - seven of the top 10 states millennials are moving to are on the East Coast or West Coast. And the northeast isn't popular among rich millennials: Only four states in the region - New Jersey, New Hampshire, Maine, and Vermont - rank among the top states rich millennials are moving to.
Below, see the top 18 states attracting rich millennials. We arrived at this list by including all states in SmartAsset's findings that have a positive net migration - the states more rich millennials are moving into than out of.
11. Georgia — Atlanta has a strong start-up scene, and the city has the third-largest concentration of Fortune 500 companies in the country, from Coca Cola and Delta to Home Depot and Porsche.
10. New Jersey — Located across the Hudson River from New York City, New Jersey offers a more affordable housing alternative for those who work in the city.
6. Oregon — Portland has many neighborhoods, a relatively affordable cost of living, and a booming economy. The city offers plenty of jobs with high salaries away from the competition elsewhere on the West Coast.
5. Florida — Miami, Jacksonville, and Tampa are hot cities for millennials; the latter has been dubbed a "city-on-the-rise" for its beach proximity, low unemployment rate, and beer scene.
4. Colorado — Millennials have been flocking to Denver for its numerous high-paying jobs, reasonable commutes, and activities. It also gets 300 days of sunshine a year.
1. California — Silicon Valley draws millennials looking to work in the tech industry. And with plenty of national parks and beaches, California has plenty to offer outdoors.
