As inflation roared in 2022, plenty of people flocked to greener pastures, hoping to keep more green in their pocketbooks.
The Consumer Price Index, the nation’s most utilized measure of inflation, rose 9.1% from June 30, 2021, to June 30, 2022 — the largest 12-month increase since 1981. Just about the cost of everything was going up, and many folks got out.
As part of its 46th annual National Movers Study, United Van Lines identified people who cited lower living costs as their top reason for moving and the most popular states they moved to.
Take a look at these top states to which folks moved, trying to get a bit more bang for their bucks.
10. Iowa
Inbound movers who cited better living costs as their top reason for moving to this state: 13.13%
The average cost of living for a family of four in the Hawkeye State in 2022 was $73,867, sixth-lowest among all 50 states, according to data from the Economic Policy Institute. The median home price in 2022 was $161,700, according to Rocket Homes.
9. Nevada
Inbound movers who cited better living costs as their top reason for moving to this state: 13.95%
The Silver State was one of the least expensive states in the nation for health care costs in Forbes’ most recent U.S. survey, with per capita spending at $8,118. The state also ranks in the lower half of the nation for property tax costs.
8. South Carolina
Inbound movers who cited better living costs as their top reason for moving to this state: 14.29%
The cost of goods and services, including rent, in the Palmetto State are several percentage points below the national average, according to the U.S. Bureau of Economic Analysis. South Carolina also has the sixth-lowest property tax rate among all U.S. states.
7. Alabama
Inbound movers who cited better living costs as their top reason for moving to this state: 14.53%
The Yellowhammer State has the fourth-lowest cost of living in the nation, according to the Missouri Economic Research and Information Center. The median home price in 2022 was $165,200, according to Rocket Homes, and the state’s property taxes are also the nation’s third-lowest.
6. Oklahoma
Inbound movers who cited better living costs as their top reason for moving to this state: 15.19%
The Sooner State had the second-lowest cost of living in 2022, according to the Missouri Economic Research and Information Center. Property taxes there are also among the lowest, with an average rate of 0.74% on the state’s median home price of $146,600.
5. Tennessee
Inbound movers who cited better living costs as their top reason for moving to this state: 16.51%
The Volunteer State ranks 10th for cheapest cost of living, according to the Missouri Economic Research and Information Center, and the state also has among the lowest property taxes among U.S. states.
4. Delaware
Inbound movers who cited better living costs as their top reason for moving to this state: 16.67%
The First State has among the nation’s lowest property taxes, with an average rate of 0.43%. The state’s median home price is $304,500.
The prices for goods and services, including rent, are a shade less than the national average.
3. Kentucky
Inbound movers who cited better living costs as their top reason for moving to this state: 19.44%
A family of four needed $74,849 to cover cost of living expenses in 2022, eighth-lowest among all states, according to the Economic Policy Institute. The median home price in the Bluegrass State in 2022 was $165,900, and property taxes here are among the cheapest in the U.S.
2. West Virginia
Inbound movers who cited better living costs as their top reason for moving to this state: 28.57%
The Mountain State has one of the lowest costs of living in the U.S., and had a median home price of $114,600 in 2022 and the fifth-lowest property taxes among all states.
1. South Dakota
Inbound movers who cited better living costs as their top reason for moving to this state: 29.17%
Living expenses in the Mount Rushmore State are about 90% of the national average. The Economic Policy Institute also reported that the state had the 17th-lowest cost of living in the nation in 2022.