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It's no secret that people are moving around the United States a lot lately. Ever since the rapid increase in housing prices and the rapid decrease in employment since the pandemic, people have been searching for more affordable places to go. So where are all these people going?
Let's take a look at some of the states that are losing the most people and where they are ending up.
New Jersey is a state that's facing some serious financial problems. The state has one of the highest tax burdens in the country, and it's only getting worse. In 2016, New Jersey enacted a gas tax increase of 23 cents per gallon, and there have been rumors of more tax increases to come.
So it's no surprise that people are moving out of New Jersey in droves.
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New York is another state that has seen a lot of people moving out in recent years. The high cost of living is one reason for this, but another is the state's tax burden. New York has some of the highest taxes in the country, and many people are simply tired of paying so much to the government.
It's no secret that Illinois is in the midst of a serious financial crisis. The state has been struggling to pay its bills for years, and things came to a head in 2017 when the state's credit rating was downgraded to "junk" status. This means that it's becoming increasingly difficult (and expensive) for the state to borrow money.
As a result, many people are leaving Illinois in search of better opportunities elsewhere.
Like Illinois and New Jersey, Connecticut is also facing some serious financial difficulties. The state has a huge budget deficit, and it's been raising taxes to try to close the gap.
This has made Connecticut one of the least affordable states in the country, and many people are simply tired of struggling to make ends meet.
California has always been a popular destination for people from all over the world, but lately, it seems like more people are leaving than coming. One reason for this is the high cost of living in California. housing costs have skyrocketed in recent years, and many people are being priced out of the market.
Additionally, California has some of the highest taxes in the country, which is another turn-off for many people.
Kansas has been struggling economically for years, and things came to a head in 2017 when the state enacted massive tax cuts. These tax cuts caused the state's revenue to plummet, and it's now facing a serious budget crisis.
Many are leaving Kansas in search of better opportunities elsewhere.
North Dakota was one of the big winners during the oil boom of the early 2010s. But now that the price of oil has dropped, the state's economy has taken a hit. This has led to job losses and an increase in crime, which is driving people away.
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Massachusetts is another one of the most expensive states in the country. In addition, the state has been struggling to create jobs lately, which is causing many people to leave in search of better opportunities elsewhere.
Ohio is another state that has been hit hard by the decline of manufacturing. The state has lost thousands of manufacturing jobs in recent years, and many people are leaving in search of work. Additionally, Ohio's taxes are among the highest in the country, which is another reason why people are moving out.
Maryland is a wealthy state, but it also has some of the highest taxes in the nation. This is causing many people to look for cheaper options elsewhere. Additionally, Maryland's cost of living is high, which is making it difficult for people to make ends meet.
Idaho is one of the fastest-growing states in the country, and it's no mystery why. The state has a low cost of living and plenty of job opportunities. In fact, Idaho has added more than half a million jobs since 2016!
South Carolina is one of the most popular states to move to in the United States. The state has a rapidly growing economy, beautiful beaches, and a low cost of living.
Oregon has been one of the fastest-growing states in the country for years now. The state has a strong economy and plenty of job opportunities, which is attracting people from all over the country.
South Dakota is another popular destination for people looking to relocate. with a low cost of living.
Arizona is another popular destination for people looking to relocate. The state has warm weather year-round and plenty of outdoor activities to enjoy.
North Carolina is a state that has seen a lot of growth in recent years. The state has a low cost of living, good job opportunities, and plenty of outdoor activities to enjoy.
Tennessee is a popular destination for people looking to escape high taxes and the cost of living. The state has no state income tax, and it's also home to a number of large corporations that are providing good job opportunities.
While Alabama isn't the first state that comes to mind when you think of relocation, it's actually one of the fastest-growing states in the country. The state has a low cost of living and is attracting retirees from all over the country.
Florida is another popular destination state for people looking to escape the cold weather up north. The state also has no state income tax, which is a big draw for many people. In addition, Florida has warm weather year-round and beautiful beaches.
Arkansas is one of the fastest-growing states in the country, and it's no mystery why. The cost of living is relatively low, and there are plenty of job opportunities.
This article was produced by Max My Money and syndicated by Wealth of Geeks.
Featured Image Credit: Kelly van Dellen.