Millennials flee the Golden State, along with their $

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Tens of thousands of California (including Silicon Valley) millennials are exiting to red states—and with them, hundreds of thousands in annual income per household. NY Post’s Allie Griffin reports on a recent Smart Asset analysis.

Wealthy millennials are leaving blue states on both coasts and heading to red states in the South by the thousands, according to a recent study.

Millennials — those between the ages of 26 and 45 — who bring in $200,000 or more a year as a household are fleeing California and New York in large numbers while more and more are moving to Florida and Texas, according to a Smart Asset analysis.”

The Golden State had 14,139 wealthy millennials move into it but saw more — 23,320 total — leave.

When they pick up and change states, “their disproportionate economic power also goes with them,” the report author said.

Read the whole thing here.

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Go Deeper:

• SF case study: “Progressive” policies tied to explosions of homelessness, safety crises, outmigration

• Ex-Californians attribute their relocation to high taxes and housing costs

• Perspective: CA’s outmigration epidemic has bad public policies to blame

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