Relocation from north to south can give you a raise
As the nation recedes deeper into recession, or whatever it's called, many of us are conserving our cash and cutting our standards of living. Some of us, though, could decrease our cost of living, in some cases significantly, simply by moving from one place to another. From time to time in this space, we will highlight specific areas in the southern U.S. that feature excellent golf communities and a reduced cost of living when compared with many metro areas in the north.
To whet your appetite, the following is a sample of what you can expect in terms of a decrease in cost of living by relocating from selected cities in the north to selected cities in the south. The data is from Where to Retire magazine, the March/April 2009 issue. (Note: The information uses 3rd quarter 2007 data; therefore, changes in housing prices since then may affect the actual spreads between cities, more likely in favor of the southern cities.)
Sample decreases in costs of living
Chicago to Knoxville, TN 23%
Cleveland to Tampa, FL 4%
Milwaukee to Columbia, SC 8%
Hartford, CT to Myrtle Beach, SC 23%
Boston to Savannah, GA 30%
Minneapolis to Mobile, AL 16%
Newark, NJ to Chattanooga, TN 29%
Philadelphia, PA to Wilmington, NC 20%
Pittsburgh to Winston-Salem, NC 5%
Providence RI to Charlottesville, VA 10%
To be clear, the average cost of living in some cities in the north, such as Cincinnatti, Pittsburgh, Indianapolis and Buffalo, is comparable to some of the most attractive cities of the south. Moves from those cities would be more about lifestyle change than reduction in living costs. However, if you are willing to live, say, 45 minutes from a big town or city in the south, you could reduce your cost of living even more.
If you would like more specific comparisons for your city with selected cities in the southern U.S., please contact me. There is never a fee or obligation for my work in your behalf.
