Rising populations can invigorate local economies, especially when incoming residents are wealthy and young. So where are rich millennials migrating? In a new annual study, SmartAsset analyzed the latest IRS data to find the places where individuals under the age of 35 who earned at least six figures are moving.

Out of all 50 states and the District of Columbia, North Carolina ranks as the fifth-most popular place where rich millennials are moving. Between 2017 and 2018, 4,902 millennials making at least $100,000 moved to the state, while 4,041 left. As a result, North Carolina gained 861 rich millennials.