![]() ![]() "Both groups are leaving the larger cities of San Francisco and New York."Ĭleveland, Dallas Charlotte, North Carolina Houston Phoenix Las Vegas Philadelphia and Atlanta also saw net increases of people beginning in 2020. "Bank of America data suggests Baby Boomers are relocating to Las Vegas and Tampa while Millennials prefer Austin," the analysis said. There is no state income tax in Texas or Florida. Orlando, Florida, shared similar growth rates with Tampa, according to the analysis. In Tampa, Florida, the population jumped by a little less than 1% in 2023 and more than 2% in the previous two years. A comparison of first quarter data from 20 shows the net population of the Lone Star State capital grew by more than 1.5% in that time period.Īustin's population grew by 5% from 2020 to 2022. It also had the largest influx over the past four quarters. One of the country's top 23 major metropolitan areas, Austin, Texas, had the biggest increase in population during the first two years of the COVID-19 pandemic. Data as of the first quarter of 2023 "suggests that cities that saw a large influx of people during the pandemic have still been growing faster than other cities in recent quarters." "We constructed near real-time estimates of domestic migration flows and found that pandemic migration trends are not reversing," the analysis said. Americans are increasingly pulling up stakes and fleeing high-tax blue states for red states that have lower taxes, according to a Bank of America analysis of aggregated anonymous internal data. ![]()
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