Jobs · OTHR · Connecticut

Connecticut

How America Moves · Connecticut, United States · 2 mo ago
OTHR$25k–$50k/yrFull-time
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Analysis of Connecticut’s state-to-state migration of people and income for the 2022–2023 federal tax-filing years.

Key Metrics (2023)

  • Cost of living: 4% above U.S. average (index 104)
  • Median home value: $343,200 (national: $303,400)
  • Home-price appreciation over 5 years: +48.3%
  • Median rent: $1,431/month (national: $1,348)
  • Homeownership rate: 66% (national: 65%)
  • Unemployment rate: 3.2% (national: 3.6%)
  • Median household income: $93,760 (national: $78,538)
  • Median age: 41.2 years (national: 38.7)

Migration Overview (2022–2023)

  • Net loss of 6,281 tax-filing households and 5,464 individuals
  • Net outflow: 1.5 people per 1,000 residents (population: 3,617,176)
  • Net loss of $495.3M in adjusted gross income (AGI, nominal dollars)

Largest inflow: 15,535 households from New York. Largest outflow: 10,486 households to New York.

Income Flow

  • Total AGI moved in: $5.4B
  • Total AGI moved out: $5.9B
  • Net AGI loss: $495.3M (nominal)

Top Origin States (Inbound Migration)

  • New York: 15,535 households, $2.4B AGI
  • Massachusetts: 6,006 households, $519.7M AGI
  • Florida: 4,519 households, $400.3M AGI
  • New Jersey: 2,242 households, $293.8M AGI
  • California: 2,146 households, $244M AGI

Top Destination States (Outbound Migration)

  • New York: 10,486 households, $1.2B AGI
  • Florida: 7,668 households, $1.2B AGI
  • Massachusetts: 6,467 households, $556.4M AGI
  • California: 2,534 households, $312.2M AGI
  • North Carolina: 2,442 households, $228.2M AGI

Two-Way Migration Churn

  • New York: 15,535 in, 10,486 out (net +5,049 households, +$1.2B AGI)
  • Massachusetts: 6,006 in, 6,467 out (net -461 households, -$36.7M AGI)
  • Florida: 4,519 in, 7,668 out (net -3,149 households, -$810.1M AGI)
  • California: 2,146 in, 2,534 out (net -388 households, -$68.3M AGI)
  • New Jersey: 2,242 in, 2,060 out (net +182 households, +$63.8M AGI)

Net Migration by Year (2012–2023)

  • 2012: -$2B AGI, -12,088 people
  • 2013: -$1.8B AGI, -15,453 people
  • 2014: -$1B AGI, -17,658 people
  • 2015: -$1.3B AGI, -12,848 people
  • 2016: -$2.7B AGI, -20,179 people
  • 2017: -$2.1B AGI, -19,856 people
  • 2018: -$1.1B AGI, -14,449 people
  • 2019: -$1.6B AGI, -11,960 people
  • 2020: -$281.7M AGI, -3,183 people
  • 2021: +$44.9M AGI, +527 people
  • 2022: -$1B AGI, -6,616 people
  • 2023: -$495.3M AGI, -5,464 people

Cumulative net loss (2012–2023): -$15.4B AGI, -139,227 people.

Migration in Context

  • Population (2023 estimate): 3,641,369
  • Net migration rate: 1.5 net people lost per 1,000 residents
  • Net income loss per resident: -$136 (nominal)

Components of population change (2023 Census estimates):

  • Births: +35,082
  • Deaths: -33,014
  • Net domestic migration: -6,498
  • Net international migration: +27,669
  • Total change: +22,662

Income and Cost of Living

  • Income per person: $90,235 (29% above U.S. average)
  • Price level: 104.2 (4.2% above U.S. average)
  • Purchasing power: $86,597 (24% above U.S. average)

Price parity by category (index where 100 = U.S. average):

  • Housing & rents: 116.6
  • Goods: 98.6
  • Utilities: 153.2
  • Other services: 103.0

Demographics

  • Median age: 41.2 years
  • Median household income: $93,760 (19% above U.S. median)
  • College degree (adults 25+): 42%
  • Poverty rate: 10.0%
  • Average commute: 27 minutes
  • Broadband at home: 91% of households

Race and ethnicity (share of residents):

  • White: 63%
  • Hispanic: 18%
  • Black: 10%
  • Asian: 5%
  • Other: 5%

Housing

  • Median home value: $343,200 (13% above U.S. median)
  • Median rent: $1,431/month (6% above U.S. median)
  • Homeownership rate: 66%
  • Home-price appreciation (past year): +10.4%
  • Home-price appreciation (past 5 years): +48%
  • New housing units authorized (2023): 6,272 (33% single-family, 67% multifamily)

Local Economy and Risk

  • Unemployment rate (2023): 3.2%
  • Labor force: 1,909,214 (1,848,062 employed)

Migration by Income Bracket (2022–2023)

  • $1–$10k: +363 households (net), -$1.9M AGI
  • $10k–$25k: +855 households (net), -$16.1M AGI
  • $25k–$50k: +1,675 households (net), -$62.2M AGI
  • $50k–$75k: +676 households (net), -$41.4M AGI
  • $75k–$100k: +708 households (net), -$59.9M AGI
  • $100k–$200k: +1,126 households (net), -$156.5M AGI
  • $200k+: +679 households (net), -$160.7M AGI

Among $200k+ earners, Connecticut ranks #37 of 51 states for net household migration (-679).

Goods Trade (2022)

  • Shipped to other states: $120.

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