The Housing Crisis has a Hand in Massachusetts Out-migration Trends
Recently published IRS data shows that net out-migration from Massachusetts among young adults ages 26-34 is the highest on record. Some 9,498 more taxpayers in this age bracket moved out of Massachusetts than moved in during 2022, up from 9,241 in 2021 and 1,769 in 2012. In 2022, the net loss of taxable income in Massachusetts from 26-34-year-olds moving out topped $1 billion for the first time. For every 100 tax filers in this age group who moved out in 2022, only 76 moved in, down from 93 in 2012. Figure 1: Effect of 26-34-year-olds Moving on Number of Taxpayers and Taxable Income in Massachusetts Figure 2: Ratio of 26-34-year-old Tax Filers Moving Into Massachusetts to Those Moving Out […]