Nearly 60% of Those Leaving Have Incomes of $150,000 or More
The United Van Lines released their company’s 47th Annual National Movers Study today, which indicates Americans are moving eastbound and southbound – and relocating to less expensive areas. "We are continuing to see the trend that Americans are moving to more affordable, lower-density areas across the country, with many heading to Southern states," Eily Cummins with United Van Lines said in a statement. To review their report, please click here.
The Massachusetts Fiscal Alliance called for State House leaders to take notice of the obvious continued trend of outward migration from the Commonwealth. United Van Lines found that Massachusetts is the 7th most moved from state in the country and four out of the 10 top destinations people move to are the least densely populated in the country. Massachusetts was the only New England state to make the top list for outward migration. According to their data, the top income bracket for people leaving Massachusetts were those earning $150,000 or more, which constituted a solid majority of those leaving at 58%, followed by $100,000 to $149,000 at 18%. The top age bracket for people leaving was 65+ at 27%, followed by 55 to 65 at 24% and a close third was 35 to 44 years old 21%. The reason for why these high-income earners were leaving were listed as “job” at 28%, followed by family at 19%, and retirement at 18%.
“Massachusetts State House leaders need to take note of the reason why taxpayers are fleeing our state. The number one priority of 2024 should be economic competitiveness and this new report shows that. The bulk of those leaving have significant resources and are looking for lower costs and lower density. The reality is, these problems won’t go away with the modest tax reforms set to kick in this year and will only get worse as mandates aimed at decreasing carbon emissions cause costs to soar on basic necessities like heating your home. These driving forces won’t go away without a major priority shift and the outward migration of people and wealth we’ve been suffering will continue to get worse as long as politicians keep their heads in the sand,” concluded Paul D. Craney, spokesperson for Massachusetts Fiscal Alliance.