Figure 8. The correlation between the price parity index and the net migration rate

Source: Author’s calculations based on “Gross migration file” data, 2018–2023, from the Internal Revenue Service (IRS), “SOI Tax Stats - Migration Data” (dataset), last reviewed March 20, 2026, https://www.irs.gov/statistics/soi-tax-stats-migration-data; Bureau of Economic Analysis (BEA), “Regional Price Parities by State and Metro Area” (dataset), February 19, 2026, last modified April 6, 2026, https://www.bea.gov/data/prices-inflation/regional-price-parities-state-and-metro-area.