Texas, Florida Draw 56,000 Inbound Filers as Sun Belt Gains $20.6 Billion in Taxable Income
Updated
Updated · Fox News · May 24
Texas, Florida Draw 56,000 Inbound Filers as Sun Belt Gains $20.6 Billion in Taxable Income
1 articles · Updated · Fox News · May 24
IRS data for 2022-2023 show Texas and Florida led U.S. inbound migration, with Texas gaining more than 56,000 residents and Florida adding 55,000 income tax filers plus about $20.6 billion in taxable income.
Low taxes, lighter regulation and lower living costs are driving households and businesses toward Southern and Sun Belt states, according to the Texas Business Association and Tax Foundation.
South Carolina posted the biggest gain relative to population—1.12%—as more than 29,000 incoming households brought roughly $4.1 billion in taxable income; North Carolina, Tennessee and Arizona also ranked among top destinations.
California saw the largest outbound losses, with more than 100,000 filers and nearly $12 billion in taxable income leaving, while New York lost about 72,000 households and nearly $10 billion.
The shift is redirecting housing demand, labor growth and tax bases toward the Sun Belt, with implications for congressional representation and political power ahead of the 2026 midterms.
With national birth rates declining, how will this great wealth migration reshape America's long-term economic future?
As Sun Belt states absorb billions in new wealth, can their infrastructure and housing markets actually keep pace with this influx?
What are the hidden quality-of-life trade-offs for families moving from coastal states to the booming Sun Belt?