Little is known about the impacts of older interstate migrants on the economies of sending and receiving states. Using published 1980 Census data on the characteristics of older migrants, in combination with expenditure data from the 1980–81 Consumer Expenditure Survey, the total interstate redistribution of income due to elderly migration over 1975–80 is estimated at about $15.2 billion. In the New York-Florida migration exchange alone, Florida gained over 1 billion dollars in income and expenditures at the expense of New York state.