As billionaires ditch California, Gen Z is following close behind—the state saw the biggest net loss of young people, many moving to Texas

As ultrawealthy tech founders like Larry Page , Peter Thiel , and Travis Kalanick flee California amid opposition to its proposed billionaire tax , a new report indicates Gen Z is also leaving the Golden State in droves.

California recorded the nation’s largest net loss of Gen Z adults in 2024, shedding roughly 58,109 young adults, according to a new LendingTree report analyzing the latest available Census data.

Texas was the biggest destination for young Californians on the move.

Other states also recorded sizable net gains in nationwide Gen Z migration, including South Carolina, which gained 22,843; Missouri, with 14,063; and Tennessee, with 13,537.

Several of these states offer a lower cost of living than many other parts of the country, potentially giving young adults more room to stretch their paychecks.

Washington, D.C. was a notable outlier.

The nation’s capital recorded a net gain of 13,905 Gen Z adults despite ranking among the more expensive places to live.

But the region’s concentration of high-paying jobs may help offset its steep housing and living costs for some young professionals.

Moving across state lines for school, a new job, or a change of scenery is nothing new for young adults.

Still, the scale of the migration is striking: Nearly 11 million Gen Z adults—roughly one in four—moved in 2024.

“When you’re young, and you’re just getting started, you don’t have to worry about moving your kids to a new school or uprooting your entire family,” report author Matt Schulz told Realtor.com .

“You can just kind of get up and go, and I think we’re certainly seeing some of that in this.” Soaring costs and a tough job market are pushing Gen Z to flee Persistent inflation, stubborn housing costs , and higher energy prices continue to strain household budgets across the country.

For young people, those pressures come on top of an unfriendly job market for entry-level workers and the restart of student loan payments , making it even harder to get their lives off the ground.

Some 42% of Gen Z are living paycheck-to-paycheck, according to a recent Bank of America study .