Housing is expensive nowadays. With officials just now realizing that they need to prioritize building housing so it becomes more affordable, many states are trying to turn the cost of living crisis in their favor. To do this, some states are now offering a variety of payments, tax credits, and other benefits just for moving to there. With housing prices increasingly out of reach in bigger cities such as New York, Los Angeles, and Miami, perhaps it would be in the best interest of many to consider there options.
Maine
For those who have student loans, you may want to consider Maine as an option. The Student Loan Repayment Program enacted by the state will offer a $2,500 tax credit value per year (or $25,000 lifetime value). You will only qualify if you graduated with an associates, bachelors, or graduate degree after 2007. Outside of the benefits, Maine is a lovely state. We would especially recommend Ugunquit, which is a quaint and peaceful coastal town which offers plenty of stunning views, hikes, and beaches.
West Virginia
Thanks to the “Ascend WV” program, you could qualify for a $12,000 payment over two years. Additionally, those who move to specific areas of the state could qualify for an even further free access to all recreational outdoor activities. And there are plenty of hikes and areas to see, so be sure to take advantage here if possible. The twist is you must have a remote job or business located in West Virginia (or can be managed remotely).
Kansas
Kansas is now offering people income tax waivers and student loan repayment programs for those in certain “Rural Opportunity Zones”. The state will offer $15,000 worth of student loan repayment over 5 years, providing that the person provides proof of an address of residency within the Rural Opportunity zone. The benefits don’t end there, you can also claim a tax credit up to 100% of your total tax liability for five straight years.
