Living on a fixed income, retirees are looking for ways to make their budgets stretch—and New Jersey’s high home prices and property taxes don’t make it an attractive place to stay.
The Garden State’s median home list price of $389,050 in November was about 21% more than the national list price of $309,000. It’s also a lot more than Arizona’s median price of $350,050 and Florida’s median price of $335,050.
But the high cost of living isn’t dissuading millennials from moving in. The state offers plenty of high-paying jobs, as well as many towns within commuting distance to New York City that are attractive to those just starting out and establishing their careers. There were still more folks aged 34 and under moving into New Jersey than out of the state, according to United.
Top states folks are fleeing
- New Jersey
2. Illinois
3. New York
4. Connecticut
5. Kansas
6. Ohio
7. California
8. Michigan
9. North Dakota
10. Iowa
Source: The State That Americans Are Fleeing—and Where They’re Winding Up | realtor.com®
The article says that Arizona is the #3 destination overall. Anecdotally, many Californians are buying residential in Mohave County. According to the Title Company, the vast majority are from California.