The Best States To Move To and States People Are Leaving
Best States to Move To in 2024: Why are Americans Moving and Where They’re Headed?
The coronavirus outbreak in February 2020 has changed the way we live forever. The whole country shut down due to the coronavirus outbreak or so-called pandemic. A lot of fear-mongering was going on by most state governors.
The landscape of where Americans choose to live has changed drastically over the past few years. From skyrocketing home prices to new remote work opportunities, more people are moving across state lines in search of better living conditions. This blog will cover the best states to move to in 2024 and explore why people leave high-cost, high-tax areas for states with more affordable housing and lower taxes. If you’ve been priced out of your local market, this could be the opportunity you’ve been waiting for.
Why Are People Moving to New States in 2024?
Since the start of the COVID-19 pandemic, the way we live and work has undergone a major shift. Many companies went remote, and while it was initially thought to be temporary, remote work is here to stay. This change opened up new opportunities for people. No longer tied to living near their workplace, employees are free to move to states with better housing markets, lower taxes, and a more affordable cost of living.
At the same time, rising home prices and high property taxes in states like California, New York, and Illinois are forcing people to look elsewhere.
The average home price in California has made it nearly impossible for middle-income earners to buy a home. This has led to a mass exodus to more affordable states. This article will highlight the best states to move to in 2024 and why so many people are packing up and heading to new places.
The Rise of Remote Work and Its Impact on Where People Live
The American workforce has seen a permanent integration of remote work. This change has enabled workers to relocate to states where they can maximize their resources. Instead of facing high rent or mortgage costs in major cities, employees are moving to areas with more affordable housing, reduced taxes, and improved quality of life.
In fact, companies are encouraging remote work to save on overhead costs. Businesses can downsize or eliminate their brick-and-mortar locations without needing large office spaces, saving thousands of dollars annually. Remote workers, in turn, no longer need to live close to the office. This opens the door for people to explore the best states to move to, especially those offering affordable housing and low cost of living.
Best States to Move To in 2024: Top Picks for Remote Workers and Homebuyers
1. Texas
Texas remains one of the most popular states for people looking to relocate. With no state income tax, affordable housing, and a booming job market, it’s no wonder people are flocking to the Lone Star State. Cities like Austin, Dallas, and San Antonio are hot spots for new residents. Whether you’re a first-time homebuyer or looking to upgrade, Texas offers a variety of housing options at much lower prices than states like California or New York.
Why Move to Texas?
- No state income tax
- Affordable housing
- Strong job market
- Diverse economy
2. Florida
Florida is another popular choice for people leaving high-tax states. The Sunshine State offers affordable living, no state income tax, and a growing job market. Florida is a top contender if you’re looking for warm weather and lower housing costs. Plus, the state is very retirement-friendly, making it ideal for those planning for the future.
Why Move to Florida?
- No state income tax
- Low cost of living
- Warm climate
- Ideal for retirees
3. Tennessee
Thanks to its low taxes and affordable real estate, Tennessee has become one of the best states to move to. Cities like Nashville and Chattanooga offer a blend of culture, entertainment, and job opportunities, making Tennessee attractive to young professionals and families alike. The state has no income tax and boasts some of the most affordable property taxes in the nation, making it an ideal choice for individuals seeking to maximize their financial resources.
Why Move to Tennessee?
- No state income tax
- Affordable housing
- Growing cities
- Great quality of life
4. North Carolina
North Carolina has long been known for its natural beauty, but it’s also becoming a hot spot for new residents. This hidden gem offers a lower cost of living, affordable housing, and strong job growth in tech and healthcare. Raleigh and Charlotte, two of the quickest expanding cities in the nation, are perfect for individuals looking to buy or rent a home.
Why Move to North Carolina?
- Affordable cost of living
- Growing job market
- Scenic landscapes
- Family-friendly communities
Arizona
If you’re looking for a state with warm weather and affordable housing, Arizona should be on your list. Cities like Phoenix and Tucson offer a lower cost of living than other parts of the country, and the state’s economy continues to grow. Arizona also attracts retirees due to its mild winters and outdoor lifestyle.
Why Move to Arizona?
- Low cost of living
- Warm climate
- Affordable housing
- Booming economy
States People Are Leaving: High Taxes and Rising Home Prices
While some states are attracting new residents, others are losing people at an alarming rate. Many Americans are fleeing high-cost states where homeownership dreams feel out of reach. Here are the top states people are leaving in 2024:
1. California
California has been losing residents for years due to its high taxes, astronomical home prices, and increasing cost of living. The average home price in the state has reached nearly $800,000, making it difficult for middle-income earners to afford a house. Combine that with high state income taxes, and it’s easy to see why people are heading elsewhere.
2. New York
New York, especially New York City, has seen a decline in population as people seek more affordable housing and lower taxes. The cost of living in New York City is one of the highest in the nation, and residents are finding that their money goes further in other states like Florida and Texas.
3. Illinois
Illinois is another state experiencing a mass exodus due to high property taxes and financial mismanagement. Chicago, in particular, has seen its residents flee to nearby states where the cost of living is significantly lower. Many businesses are also leaving the state due to its heavy tax burden.
Chicago is the highest-taxed major U.S. city. With consistent rising taxes, the city still cannot seem to get its finances together. The pension debt is mounting with no signs of relief.
No matter how much you raise and/or create new taxes, there is no way the pension system can be fixed. With billions of dollars in debt, the pension debt keeps on increasing. The city needs pension reform. The current pension system is being run like a Ponzi Scheme.
What If You’re Priced Out of the Housing Market?
For many Americans, especially in high-cost states like California, the dream of owning a home seems impossible. If you’re feeling priced out of your local housing market, it’s time to consider moving to one of the best states to move to in 2024. With remote work making relocating easier, now is the perfect time to take advantage of lower housing prices and better opportunities elsewhere.
Imagine moving from a $800,000 home in Los Angeles to a similar property in a state like Georgia or Tennessee for a fraction of the cost. Moving to a state with lower living costs helps you make your income last longer and enjoy a better quality of life.
How to Buy a Home in a New State: What You Need to Know
Moving to a new state is an exciting opportunity but requires some planning. Here are a few tips for buying a home in one of the best states to move to:
- Get Pre-Approved for a Mortgage: Before you start house hunting, make sure you’re pre-approved for a mortgage. This will give you a clear understanding of how much home you can afford and show sellers you’re serious.
- Research Local Housing Markets: Every state has different housing markets. Research to find out where you can get the most value for your money. Look into factors like property taxes, average home prices, and crime rates to help make an informed decision.
- Work with a Local Real Estate Agent: When moving, it’s important to work with a real estate agent who understands the local market. These agents can assist you in locating the perfect home, guide you through the purchasing process, and steer you clear of typical pitfalls.
- Consider Your Lifestyle: Moving to a new state is more than finding an affordable home. Ensure that the state you choose matches your way of life, including convenient access to outdoor pursuits, a robust educational system, or a flourishing employment sector.
Frequently Asked Questions About the Best States to Move To:
Q: Why are so many people moving to new states in 2024?
A: People are moving to new states for affordable housing, lower taxes, and better job opportunities. Remote work has allowed many to relocate to states with a lower cost of living.
Q: What are the best states to move to for affordable housing?
A: Texas, Florida, Tennessee, North Carolina, and Arizona are some of the best states to move to in 2024 for affordable housing.
Q: Why are people leaving states like California and New York?
A: Many people are leaving states like California and New York because of high home prices, high taxes, and the high cost of living.
Q: What makes Texas one of the best states to move to?
A: Texas is popular due to its affordable housing, lack of state income tax, and strong job market, making it one of the best states to move to in 2024.
Q: Is Florida a good state for retirees to move to?
A: Florida is ideal for retirees because of its warm climate, no state income tax, and retirement-friendly policies.
Q: Can remote workers buy a home in any state?
A: Yes, remote workers can buy a home in any state, and many are taking advantage of the opportunity to move to states with more affordable housing options.
Q: What are the benefits of moving to Tennessee?
A: Tennessee offers affordable housing, no state income tax, and growing cities like Nashville and Chattanooga, making it one of the best states to move to.
Q: Which states have no state income tax?
A: Texas, Florida, and Tennessee are among the best states to move to because they have no state income tax, allowing residents to save more.
Q: How has remote work changed where people live?
A: Remote work has allowed people to live anywhere, leading many to move to states with lower housing costs, fewer taxes, and better quality of life.
Q: What should I do if I’m priced out of my local housing market?
A: If you’re priced out of your local housing market, consider moving to one of the best states in 2024, where housing is more affordable, and you can get more for your money.
Over 20% of our borrowers at Non-QM Mortgage Lenders are clients who are fleeing one state and moving to another state with a low cost of living and affordable housing. Borrowers who need a five-star national mortgage company licensed in 48 states with no overlays, please contact us at Non-QM Mortgage Lenders at 800-900-8569 or text us for a faster response. Or email us at gcho@gustancho.com.
This blog about “The Best States To Move To and States People Are Leaving” was updated on September 19th, 2024.
