Gen Xers, those born between 1965 and 1980, made up the highest share of homebuyers in 2020—they also earn the most out of other homebuying generations. With a median income of $113,300 in 2019, Gen Xers have the funds to invest more in their homes, so what housing markets are most attractive to this generation? SmartAsset crunched the numbers for the generation’s highest earners to see where the big spenders move most. The site found that the Southern and Western states were most popular, with Florida as the top state, Texas in second, and North Carolina in third.
Florida gained a net of 9,529 Gen Xers earning at least $100,000 per year between 2018-2019. The biggest inflow came from people aged between 45 and 54 years old, earning between $100,000 and $200,000 per year – 7,772 people fitting this demographic moved into Florida over that time period.
Texas gained a total of 7,133 rich Gen Xers from 2018-2019. The raw total of Gen Xers making at least $100,000 moving into the state was 24,340, while 17,207 left.
3. North Carolina
More than 8,000 rich Gen Xers left North Carolina from 2018-2019, but 11,189 moved into North Carolina that same year. The state has a net migration of 3,121 Gen Xers for that time period.
Arizona attracted 8,482 new rich Gen Xers, while 5,556 moved out over the time period we looked at. The state had a net gain of 2,926 Gen Xers earning at least $100,000 per year from 2018-2019.
5. South Carolina
South Carolina had a net gain of 2,301 rich Gen Xers from 2018-2019. The biggest influxes were of Gen Xers earning at least $100,000 but less than $200,000 per year.
From 2018-2019, the Volunteer State gained 6,854 Gen Xers earning at least $100,000 per year, while 4,671 of them left the state. This leaves Tennessee with a net gain of 2,183 for that time period.