Charleston, West Virginia, USA downtown skyline on the river at dusk.
Housing and insurance costs in Florida have been skyrocketing. Add in to that, a heavy dose of inflation and it's getting very difficult just to get by. Yes, the current inflation rate is down, but that just means it's slowing, prices aren't coming down. So maybe it's time to check in to other options. And by that, I mean incentives. I found 5 places that will literally pay you to move there. So if you have a job that you can do remotely, here's some places you can check out if you're willing to leave Florida.
These are not retirement options. These are cities that are willing to give you money in exchange for working, and adding to their local economies. But you won't just be trading in the beach, you'll be giving up Florida's zero state income tax policy. All of these places will have a state income tax in the .25 - 6% range. Some will have local taxes, too. But what you will get is lower priced housing, cheaper insurance, no hurricanes, and likely, more money in your pocket.
Makemymove provided the details on locations that will pay you to move there.
It pretty much boils down to - do you have a full time job that you can work remotely? And - are you ready to leave Florida to move there?
West Virginia. The state's program is called Ascend West Virginia. If you can check the boxes, they'll give you $12,000 + a year of free outdoor recreational activities. Ready to trade in Flat Florida for a life in the mountains? There's actually a new community just outside New River Gorge park that looks pretty incredible, and they're looking for people to move there.
Oklahoma. Their program is known as "Tulsa Remote." If you can adapt to the cold, they'll spot you up to $10,000 to come live and work there. And that $10K will go a long way. Houses in Tulsa are a lot cheaper than anything here in Southwest Florida.
Kentucky. Owensboro, Kentucky wants remote workers that make $60K+ a year. Here's their offer: $5,000, free coffee and donuts, and banjo lessons. There's other things in there, too, but those are the biggies. Another plus is that houses in Owensboro are super cheap. I found a fully renovated (and it's nice) 4 bed, 3 and a half bath, 2,700 sq foot home for $380,000. The basement looks like a nightclub. This house would be a mil + in Southwest Florida. Even without the basement.
Clearly there's a theme that if you want money to move, it's going to be somewhere colder than Florida.
Indiana. Greensburg has an incentive package that includes $5,000 plus a program they call "Grandparents On Demand." They have a couple that offer babysitting hours and will attend school events for you. If you're working from home, surely you can occasionally skip out to see your kids play, right?
Kansas. Topeka isn't playing. They want you there. And their program isn't just for remote workers. Find a job in Topeka and they'll pay you to move there. Up to $10 grand in cash for renters, and $15,000 if you're buying a house. Some of the businesses will also chip in money as well. You can get up to $22,500 if you take a job in Topeka and move there. Housing there is crazy cheap, so if you're looking to reduce your monthly payout, this may be a spot to check out. But, before you get ready to leave Florida, there's some weather. You'll be trading in hurricanes for tornadoes and snow. Hopefully not at the same time.
If you want to stay in Florida, but are looking for someplace less expensive, here's some ideas.
The Most Affordable Cities In Florida to Buy a House
First of all, I hope you didn't click on this story thinking you're going to find a huge bargain. Housing affordability in Florida is a big issue. That saying, there are some slightly more affordable cities in Florida to buy a house. But before we get to that, let's look at some places outside of Florida, especially South Florida, where you're likely to find the biggest bargain. The number one city on the list isn't too far from Florida, and is about half the size of Orlando. But without the theme parks.
The Most Affordable City To Buy A House
Let's go to the experts. The Homebuyer.com research group built an algorithm that calculated the relative cost of homeownership based on public and private data. The data includes the home's sale price, mortgage interest rates, and property taxes. They also take into account transportation, getting to and from work, schools, and errands. Lastly, the part that hits Florida hard. Insurance. Homeowner's insurance is really hitting Florida residents. They then created this list of the 800 largest cities, with more than 50,000 residents, in the United States.
So which city tops the list of most affordable? It's just up the road in Macon, Georgia. The study gave Macon a 100% on their affordability scale. Here's the numbers.
Additional factors that put Macon, Georgia on top includes their college. Mercer University is one of the best value colleges in America. The college even has a down payment assistance program. Up to $20,000 in home buying assistance is available to qualified faculty and staff. There's other programs available for homebuyers including tax freezes for people who purchase historic properties. The city has a rich history dating back to 1809, and it looks like they are incentivizing people to help maintain the historic homes.
Macon is located about 84 miles south of Atlanta. As for the weather, sure, it's not as warm as South Florida. The temperature will drop below freezing in the winter. You're also nowhere near a beach. Florida transplants will need to adjust to that elevation of 381 feet, but you'll be ok. They call Macon "The Heart Of Georgia." But now, let's get to Florida.
The Most Affordable Cities In Florida To Buy A House
139: Miami Beach, FL
No joke, I had to scroll all the way down to number 139 on the list to find a city in Florida listed. And then the surprise of - Miami Beach? According to their findings, Miami Beach has a 95% affordability with a monthly homeowner cost of $3,634. But this is Miami Beach, right? Well, you can buy a house there, but perhaps it's a bit shy of the "dream home" you may have planned on. Here's a cozy 640 square foot, well, it's essentially a walk in closet with a bathroom, that you can get for $300,000.
152: Ocala, FL
Ocala has an affordability of just under 95% with a monthly homeowner cost of $3,691. Ocala is in between Orlando and Gainesville and nope, no beaches. But, you can get a pretty decent spot for around $300K. If you stay away from the golf course developments, you can even avoid HOA fees.
https://www.realtor.com/realestateandhomes-detail/3341-SW-153rd-Place-Rd_Ocala_FL_34473_M93456-19625
156: Daytona Beach, FL
I always thought of this more as a party spot, but I guess you can live there, too. With a monthly homeowner cost of $3,700 it looks to be an ok place to be. You can even get some yard and be set back from the road for just over $300K.
161: Deltona, FL
Deltona has a monthly homeowner cost of $3,734. There's also some great fishing in the area. I found this listing for under $300K and it even has a pool!
176: Jacksonville, FL
I actually know someone who moved from Southwest Florida to go to Jacksonville to save money. With just over 94% relative affordability and a monthly homeowner cost of $3,811, he was quite happy with his move. J-Ville is a much bigger city, so you'll need to be extra cautious of the neighborhood you buy in to, but there's some affordability here. I found this one for less than $300K and $13 a month HOA.
Southwest Florida
So where does Southwest Florida end up on this list? Not good. But we already knew that. Cape Coral comes in at number 452 on the list. There are 451 other cities in America that are cheaper to live. The relative affordability is 90% and the monthly homeowner cost is $5,253. Let's scroll down to number 460 on the list. Fort Myers. A similar relative affordability with a monthly homeowner cost of $5,298.
Let's go up the coast a bit. Bradenton is at number 560. Their monthly homeowner cost is $6,015. Sarasota is number 606. It's $6,401 a month to live there.
Bonita Springs. Number 686 on the list. A relative affordability of 83% and a monthly homeowner cost of $7,760. You know some of those expensive little towns in California? Bonita Springs is right there with them.
Where's Naples? The population cutoff on this list was 50,000 people, so Naples wasn't surveyed. But I'm sure it would not have been good.
But can I buy a house in Naples for less than $300K?
Sure you can. If you're not too picky. This might be a good place to do one of those home restoration shows.
