NYC lost $9 billion of income to Miami, Palm Beach in five years

Quick Summary:

30,000 New Yorkers fled the city for Florida’s Palm Beach and Miami-Dade counties in five years.

The CBC data also breaks down migration out of the city by race and ethnicity, income and age.

Tracking the movements of New York’s millionaires has become a fraught political issue because the top 1% of the city’s tax filers pay 40% of the income taxes.

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Article Details

Author / Journalist: Michelle Kaske, Laura Nahmias

Category: EconomyBusiness

Markets: United States

Topics: Florida Real Estate Housing New York City Miami

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-30 @ 16:08:11 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 443 words

Reading Time: 3 minutes read

Sentences: 4 lines

Sentence Length: 111 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28300892

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Main Topics: EconomyBusiness

Official Website: fortune.com

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Year Established: 1929

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News Last Updated: 8 hours ago

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