Palm Beach County Draws $3 Billion in Taxable Income, Leading U.S. Wealth Migration
Updated
Updated · Fox News · Jul 21
Palm Beach County Draws $3 Billion in Taxable Income, Leading U.S. Wealth Migration
3 articles · Updated · Fox News · Jul 21
Summary
IRS migration data show Palm Beach County gained more than $3 billion in adjusted gross income from out-of-state movers, the largest net increase of any U.S. county.
Florida’s no-income-tax regime and broader Sun Belt growth helped pull in affluent households, giving Palm Beach an outsized boost in spending power, investment and local tax base.
Collier County ranked second with roughly $2.25 billion in AGI gains, reinforcing Florida’s dominance in attracting high-earning migrants.
Los Angeles County posted the biggest filer loss at 17,496 returns and nearly $1.9 billion in AGI, while Queens, the Bronx, Orange County and Suffolk also saw major outflows.
Manhattan added the most interstate filers but still lost about $922 million in AGI, underscoring that population gains and wealth gains are diverging as economic weight shifts south.