Arizona Among Top US States Attracting Highest Earners, Tax Data Shows

Article originally posted on Phoenix Business Journal on August 4, 2023

Arizona is attracting high earners at a fastest clip.

In a recent study from SmartAsset, the Grand Canyon State ranked fourth among the states where high-earning households are relocating. States on the list were ranked by net migration of tax filers with a minimum of $200,000 in adjusted gross income.

Arizona saw a net migration of 4,563 high earners between 2020 and 2021, per the report. That figure lagged behind only Florida, Texas and North Carolina. The Sunshine State was atop the list with a staggering net migration of 27,567 high earners. In fact, seven of the top 20 states on the list were in the Southeast.

Still, it’s important to note that for Arizona, the net migration number was a drop from a year earlier, when the state gained 5,268 new high earners.