NYC Lost $9 Billion of Income to Miami, Palm Beach in Five Years

A net 30,000 New Yorkers fled the city for Florida’s Palm Beach and Miami-Dade counties in the five years through 2022, taking with them a combined $9.2 billion in income, a new report shows.

The two Florida counties gained households earning well above six figures, according to the report released Wednesday by the Citizens Budget Commission, a nonpartisan fiscal watchdog. Almost 20,000 people with a per capita income of about $190,000 left New York City for Palm Beach during that time, while more than 26,000 individuals with a per capita income of about $266,000 went to Miami-Dade, according to the ...