An influx of young, affluent individuals is leaving California and heading to Florida.

Although Florida is often viewed as an ideal retirement location, an increasing number of young affluent Americans are currently choosing to relocate there.

In 2022, the Sunshine State experienced the highest net migration of wealthy Americans aged 26 to 35, with a net gain of 1,786 young households earning at least $200,000, according to a SmartAsset analysis of IRS data.

Florida's sandy beaches, world-class attractions, and absence of state income tax continue to attract Americans across income brackets.

Chabely Rodriguez, a 29-year-old anesthesiologist assistant, is content with her decision to reside in Florida after moving from New York in 2021. She is among the young professionals earning more than $200,000 annually who have experienced the advantages of living in Florida.

""I've been able to experience a variety of exciting activities and enjoy a different lifestyle since moving to the South," she shared with CNBC Make It in 2023, earning over $210,000 annually."

Florida is joined by four other Southern states — Texas, North Carolina, South Carolina, and Tennessee — in SmartAsset's top 10 states with the highest net migration of young high earners.

While wealthy young Americans are leaving states with high living expenses in large numbers, California experienced the greatest net decline of high-earning households earning $200,000 or more in 2022, with a loss of over 3,200 more wealthy households than it gained.

While some parts of California can rival Florida's weather and attractions, many Americans, including high-income earners, may find it challenging to afford a comfortable lifestyle in the state due to its notoriously high costs for essentials such as housing, food, and insurance.

According to estimates from the Economic Policy Institute, two adults without kids would require an additional $30,000 per year in San Francisco compared to Miami to cover all their necessary expenses, including housing, food, transportation, taxes, and health care.

While the states with the highest concentration of young and wealthy households are not as centralized as some might think, California, Illinois, New York, Pennsylvania, and Michigan are among the most populous states in the country. As a result, it's possible that movers are looking for the space mentioned by Rodriguez in other areas.

According to SmartAsset, these are the states with the largest declines of young and wealthy households in 2022.

Notably, the states that experienced significant migration had a larger influx of young, wealthy residents than the states that gained them.

While California gained 7,400 young and wealthy households but lost 10,600, Florida only had 3,870 move in but managed to net the highest gain with just over 2,000 leaving.

Despite receiving more than 5,000 young wealthy newcomers, New York experienced a higher number of departures, resulting in a negative net migration.

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