Looking to save money and relocate at the same time? Moving to a city that offers new residents cash incentives might be worthwhile.
And with high inflation and stubborn mortgage rates, it seems more workers are choosing to cash in, according to U.S. News & World Report.
For many people, making money moves is a good call, according to Realtor.com® senior economist Ralph McLaughlin.
“The double bonus of a cash subsidy combined with lower home prices could be quite attractive to households that have little personal or professional costs associated with cutting physical ties from their current location,” he says.
That’s a win-win, especially for remote workers who are being priced out of the market in their current cities.
“Not only would cash compensation help such households get their foot in the door of the housing market, many of the places offering such incentives also happen to have relatively low home prices.”
These cities are offering cash and other perks to new residents:
Greater Rochester, NY
The program: Greater ROC Relocate
What it offers: Up to $9,000 in grants for purchasing a home in the nine-county region, as well as up to $10,000 in awards for those in targeted career fields.
The fine print: Candidates must be at least 18, be eligible to work in the U.S., live at least 300 miles from Rochester, and relocate within six months of acceptance.
Why Greater Rochester rocks: Barb Egenhofer, director of talent strategy at the Greater Rochester Chamber of Commerce, tells Realtor.com that over 170 people have taken advantage of the program so far.
“We have found many of our movers come for the freshwater access, change in seasons, vibrant community offerings, great place to raise a family, inclusivity, and many, many more reasons,” says Egenhofer.
(Realtor.com)
Jacksonville, IL
The program: Make My Move
What it offers: A compensation package worth $9,300, including $5,000 in cash that will be paid in full after you live there for 12 months. Other benefits include a one-year membership to a driving range, a teeth-whitening package, and a three-month gym membership.
The fine print: Candidates must be at least 18, earn at least $50,000 annually, live 70 miles outside of the Jacksonville region at the time of application, move to Scott or Morgan County within six months of acceptance, and remain a Jacksonville resident for one year after moving there.
Why Jacksonville rocks: “Our communities, centrally located in Illinois, offer small-town charm, as well as big-city amenities,” says Kristin Jamison, president of the Jacksonville Regional Economic Development Corp.
“We launched this program in late May 2024, and I’ve been impressed by the positive reception. So far, 200 people have applied, and we’ve made offers to five professionals.”
(Realtor.com)
Topeka, Kansas
The program: Choose Topeka
What it offers: Up to $10,000 in funds for renting in the first year or up to $15,000 in funds for a home purchase. (There is an employer-match component to get this benefit—see website for more details.) There are two other programs available as well, including one offering $5,000 to former Topeka residents and one offering $5,000 to those transitioning out of the military.
The fine print: Candidates must have an on-site job in Shawnee County in Northeast Kansas and rent or purchase a house within a year of their hire or move. (The program is no longer offered to remote workers.)
Why Topeka rocks: “We have world-class amenities and a cost of living that helps people thrive,” says Bob Ross, senior vice president of marketing and communications for the Greater Topeka Partnership. “So far, 170 individuals and families have relocated through the program, and over 7,500 people have reached out to learn more about moving to Topeka.”
(Realtor.com)
Tulsa, OK
The program: Tulsa Remote
What it offers: $10,000 in rental grants made through monthly disbursements or a $10,000 lump sum after purchasing a qualifying home, and a three-year membership to a local co-working space.
The fine print: Candidates must be at least 18, be eligible to work in the U.S., have full-time, remote employment outside of Oklahoma, have lived outside of Oklahoma for one full year before applying, and relocate to Tulsa within 12 months of approval.
Why Tulsa rocks: Since the program was launched in 2018, more than 3,000 remote workers have moved to the city—and 74% remain there today.
“Our participants have told us they’ve experienced many positive lifestyle changes since moving to Tulsa, including the financial freedom to embark on homeownership and start businesses,” says Justin Harlan, managing director of Tulsa Remote.
(Realtor.com)
West Virginia
(Eastern Panhandle, Greater Elkins, Greenbrier Valley, Morgantown, or New River Gorge)
The program: Ascend WV
What it offers: A total of $12,000 in cash incentives. The first $10,000 will be disbursed in monthly payments the first year you live there, and $2,000 will be paid after your second year of living there.
The program also offers access to free co-working space and a one-year Digital Outdoor Recreation Pass, which includes free outdoor gear rentals and access to activities like snowboarding, rock climbing, and white-water rafting.
The fine print: Candidates must be at least 18, have a full-time job, be able to verify employment details and remote status, and be able to work remotely in West Virginia through a company located outside of the Mountain State.
Why West Virginia rocks: “West Virginia is the perfect place to work remotely, start a business, buy a house, and raise your family,” according to Ascend WV. “Paired with stunning views and endless adventure, West Virginia’s remote work-friendly culture is making waves.”
(Realtor.com)
