The red state growing faster than any other in the US, according to IRS data
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Texas and Florida are attracting the largest number of new residents, but South Carolina is growing faster than other states as Americans continue to relocate across the country, according to new IRS data.
The trend highlights a broader shift toward the South, as Americans say they are mobilizing for lower taxes, more jobs and a higher quality of life.
Given its size, South Carolina is experiencing the largest influx of new residents per capita from any other state, accounting for just over 1% of its population. In other words, for every 100 people living in the state, a new person moves from other parts of the country.
THIS STATE IS ONLY GROWING – ITS PER CAPITA ECONOMY IS GETTING RICHER
Relative to its size, South Carolina grew faster than any other state in the country. (Jeffrey Greenberg/Universal Images Group/Getty Images)
The Palmetto State added more than 59,000 residents from other states between 2022 and 2023, according to the most recent data available. IRS data.
The movement isn’t just about people, it’s also about income.
The influx of South Carolina residents added more than 29,000 new taxpayers and nearly $4.1 billion in revenue. This shift is likely to boost local economies in the state as new residents bring spending power and help fill open jobs in growing industries.
Zooming out, Texas and Florida still attract the most people overall because they are much larger states in size and population, so even smaller increases contribute to larger overall gains.
According to the data, Texas led the country in terms of new residents with 56,473 new tax returns in 2023, followed by Florida with 55,349.
The gains came as some of the nation’s most expensive states, run by Democrats, saw the biggest losses. The number of people filing tax returns from 2022 to 2023 in California is down by more than 100,000, and in New York by nearly 72,000.
CALIFORNIA’S EMERGING CAPITAL FLIGHT PROBLEM COULD RESHAPE THE STATE IN 3 KEY AREAS
South Carolina saw an increase of 29,000 new tax returns, according to the latest IRS data. (Wolfgang Kaehler/LightRocket/Getty Images)
Revenue losses reflect population decline, with California losing about $12 billion and New York losing about $10 billion; especially due to the displacement of some of the highest earners.
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Taken together, these shifts suggest that Americans are not just moving, they are also redistributing income and economic power.
If this trend continues, it could further reshape population growth and state economies in the coming years.
