Hunter Hampton | Anderson Real Estate Sales | DRE# 01212578
High real estate prices, high rents and utility bills, and increasingly higher property, income, and sales taxes are driving people out of California, are you next? If you’re thinking of leaving California for greener (or cheaper) pastures, here are a few places to consider.
Hey y’all Hunter Hampton here, Chico House Hunter
The top four places ex-Californians are moving to according to the US Census, is Texas, my home state, followed by Arizona, Nevada and Oregon, in that order.
Now, California is losing residents to states all over the country but, between 2007 and 2016, over the last 9 years or so, six million people have left the golden state for one reason or another.
It’s becoming obvious, if it wasn’t already, that California real estate is uniquely expensive compared to the rest of the country.
So check this out:
Statewide, the median home value in California was $551k while the national median home value was less than half that, at mere $248k according to the National Association of Realtors
This begs the question why buy one house In California when you can get two IMG in Texas? According to Zillow, the 2018 median price for a single-family home in Texas was $235k— half of what the same home would cost in California.
Besides real estate prices being exorbitant, our state has the highest personal income tax rate in the country at 12.3%. So if you’re sick and tired of being sick and tired, you might consider these seven states that forgo individual income taxes.
Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming all have ZERO income taxes. Residents of New Hampshire and Tennessee are also spared from handing over an extra chunk of their paycheck, though they do pay tax on dividends and income from investments. However, Tennessee plans to phase this tax out by 2021.
So there you have it, these are the places your neighbors are moving to if they are leaving the state. Imagine selling your home, moving to another state, and paying cash for your next place while having all that money left over to do whatever your heart desires…
If you know someone that is thinking of moving, please, like, share and tag them in this video.
Happy house hunting y’all.