Relocating to States having lower cost of living in USA?
People do relocate for various reasons including family, Jobs, retirement, etc. But the current trend for relcation is to reduce the cost of living by adjusting to very cold or hot weather.
Consider the case of New York, California where the state income tax is very high besides cost of apartment rental, transportation is also very high compared to other states such as Texas, Florida, Washington, etc.
This is not only attracting the people. Many business are also moving to the states with lower cost of living so that they do not have to pay a high compensation to accomodate the living expenses.
With the reference the information from Wikipedia, the following are the top 10 states with highest population growth:
5. North Dakota
10. North Carloina
It we look at the above list, people are ready to accomodate very hot or very cold weather along with unusal day light length through out the year.
Now it is the time for the state government to reduce the cost and giving a tax break on income tax, sales tax to attract more people to stay in their area.
However it represents only the current trend, Over the couple of years, Texas will become also very costly since too many people of migrating to Texas in the recent years that will eventually balanceout. Whenever we see an extreme, correction always begins.