Massachusetts Sees Major Resident Exodus
Massachusetts lost 182,000 residents to outmigration over the last five years. High costs and housing shortages are the primary drivers of the shift, which could impact labor markets and business investment across New England, including neighboring Rhode Island.
The exodus carries a significant financial toll, with Massachusetts losing $10.6 billion in adjusted gross income (AGI) from net out-migration between 2020 and 2022 alone. This loss is accelerating, exceeding the total $10 billion in AGI that left the state over the entire 2012 to 2019 period. The demographic profile of those leaving includes key segments of the workforce: young adults aged 26-34 and high-earning households with incomes over $200,000. Many are highly educated, with over a third of recent out-migrants holding a graduate degree. While states like Florida and New Hampshire are the top destinations, capturing about 60% of the lost income, Massachusetts lost residents to every other New England state. The trend suggests a regional reshuffling, not just a flight to the Sun Belt. For those moving locally, the cost differential is stark. The median single-family home in Rhode Island was $140,000 cheaper than in Massachusetts in 2024. In Providence, average rents are nearly 40% lower than in Boston, and the overall cost of living is 25.5% less. However, this domestic outflow is being significantly offset by international immigration. A net influx of over 50,000 foreign immigrants in 2023 helped the state avoid a significant population decline. In fact, the rate of domestic out-migration has
