Improve Finances by Relocating to Affordable States

Here is the summary of the findings:

The U.S. state that saves the most money when movingisDelaware, with a total savings of$18.9Kafter relocation to another state. Most residents choose Maryland as their new home, with a higher quality of life and safety. The main difference between states is income, with Maryland residents earning up to $18K more annually.

Idahoranksthird, where movers save up to$17.2K. Over 70K people moved out of the state in 2023, and the most popular choice was Washington. 10.5K people moved from Idaho to Washington, choosing higher salaries, with a median income of $82.4K.

Texasholdsfourthposition, and movers from there can save$16.7K. Over 494K people chose to leave Texas in 2023, with California being the primary option, and nearly 1 in 10 people moving there. The cost of living and rent are higher than in Texas, but income and safety are significantly higher in California.

Wyomingisfifthamong the U.S. states where new movers save the most money. When choosing a state to move to, Wyoming residents most often choose Colorado. As a bigger neighboring state, it is a popular choice, and movers can save over $15.7K with this decision. At the same time, movers trade quality of life and safety, with Colorado trailing behind Wyoming in both categories.

Arizonarankssixth, with$14.9Ksaved. Similar to Texas, the most popular choice for Arizonian movers is California, with 27.4K people relocating there. California is significantly more expensive than Arizona, but it compensates for it with a higher quality of life and overall life satisfaction, with a happiness score of 59.9 for California.

Inseventhplace isRhode Island,with$14.7K savedby moving to another state. The most popular choice is Massachusetts, which stands out withthe highest safetyandthe highest quality of life. The rents in Massachusetts are higher, but Rhode Island movers can also expect higher salaries, with a median income of $89.6K.

Louisianafollows closely witheighthplace and$14.4K in savings. The preferred state to move from Louisiana is Texas, with 1 in 4 movers relocating there, amounting to 25.1K in 2023. Beyond higher safety and quality of life, Texas also offers a cheaper cost of living, with $1,242 against Louisiana’s $1,325.

Arkansasisninth, with$13.6K in savings. Just as for Louisiana, the most popular place to move from Arkansas is Texas, with 18.5K people making their new home there. One of the main advantages islower real estate prices, costing over $26K less in Texas than in Arkansas.