Moving Out of State? These 10 Housing Markets Should be on Your Radar

5.11.2023 | Category: Article

Moving out of state can be a major life decision, but it can also be a positive and financially sound move for many individuals and families. Whether you're looking for a lower cost of living, better job opportunities, or even just a change of scenery, there are many reasons why moving to a different state can improve your financial situation and overall quality of life. 

Why move out of state?

If you do your research and carefully consider your options, moving out of state can offer a range of benefits for homebuyers. From more affordable housing markets to better job opportunities, there are several reasons why relocating to a new state could be the right choice for you.

What are the ten housing markets to move out of state to?

According to recent research from the National Association of REALTORS®, these top metro areas have the reputation of a top housing market to move out of state to. On the top of the list is Atlanta, which is expected to be the housing market in the United States with the most potential for growth in 2023. 

Read on to learn more about the top ten cities NAR identified as the real estate markets to watch next year:

1. Atlanta/Sandy Springs/Marietta, Georgia
   
   The city, sometimes referred to as the "New York of the South," has been identified as the number one real estate market to watch in the coming year.
   
   Compared to other major metropolitan areas, Atlanta-Sandy Springs-Marietta has a more affordable cost of living, making it an excellent option for homebuyers.
   
   Additionally, the area has a diverse range of housing options, from historic neighborhoods to modern high-rise apartments, providing options for every lifestyle and budget.
   
   Whether you're a first-time homebuyer or looking for a larger property to accommodate your growing family, Atlanta-Sandy Springs-Marietta offers a variety of options to suit your needs.
   
   
2. Raleigh, North Carolina
   
   Raleigh, North Carolina is a city that offers numerous benefits to those considering a move. One of the top benefits of moving to Raleigh is the thriving job market. The city is home to a range of businesses and industries, with a strong presence in technology and healthcare. Major employers such as IBM, Cisco Systems, and Duke University Health System offer ample opportunities for skilled workers.
   
   Raleigh also has a lower cost of living compared to other major cities, making it an attractive option for those looking to save money. The city's affordable housing market, in particular, offers a median home value that is below the national average.
   
   Raleigh also has several parks, lakes, and greenways for outdoor enthusiasts, as well as a thriving music scene with several festivals throughout the year. With all these benefits, it's no wonder that Raleigh is a popular destination for those looking to relocate.
   
   
3. Dallas/Fort Worth/Arlington, Texas
   
   The Dallas-Fort Worth-Arlington metro area is a unique blend of Texas culture and modern amenities, providing residents with the best of both worlds.
   
   Fort Worth still embodies the cowboy lifestyle Texas is best known for, while Dallas boasts trendy bars and abundant shopping options. The region unites behind its sports teams, including the Dallas Cowboys and Dallas Mavericks, creating a strong sense of athletic pride.
   
   The city is home to several large corporations, including American Airlines, ExxonMobil, and AT&T, which offer ample employment opportunities. In addition to its strong job market, the city also boasts a lower cost of living than many other major cities in the United States. The city's affordable housing market is particularly attractive, with a median home value that is below the national average.
   
   Dallas-Fort Worth-Arlington also offers a vibrant arts and culture scene, with several world-class museums, theaters, and performance venues. The city's many parks and recreational areas make it easy to enjoy the outdoors, and the area has a wide range of dining and shopping options. Overall,
   
   
4. Fayetteville/Springdale/Rogers, Arkansas and Missouri
   
   One of the top reasons to consider the Fayetteville-Springdale-Rogers, Arkansas-Missouri area is the relatively low cost of living. At just over $300,000, the region has a median home value that is below the national average, making it an attractive option for those looking to stay within their budget but still get a great value.
   
   The area has a strong job market, with several major employers such as Walmart, Tyson Foods, and the University of Arkansas. In fact, its home to Walmart’s early beginnings and welcomes visitors to its Walmart Museum on the site of founder Sam Walton's original store. Just off the University of Arkansas campus, is a vibrant neighborhood of restaurants, bars, and shops along Dickson Street. It’s also home to the Walton Arts Center, the Bikes, Blues, and BBQ Festival, and many parades.
   
   Fayetteville-Springdale-Rogers is also known for its beautiful natural scenery, with several state parks and recreational areas nearby. The region is nestled within the Ozark Mountains and includes four of the ten largest cities in the state: Fayetteville, Springdale, Rogers, and Bentonville, making it a great place for outdoor enthusiasts, with opportunities for hiking, fishing, and camping.
   
   
5. Greenville/Anderson/Mauldin, South Carolina
   
   Greenville-Anderson-Mauldin, South Carolina is a great place for homeowners looking to move out of state, with a rich arts and history culture, coupled with stunning state parks. Located in the Piedmont region of the United States, Greenville has a humid subtropical climate, with generally mild winters and enjoyable summers.
   
   Greenville-Anderson-Mauldin is known for its beautiful scenery and outdoor recreation, with several state parks and hiking trails in the area. Surrounded by the Blue Ridge Mountains, this region is an outdoors enthusiast’s dream come true with waterfalls, rivers and lakes only a short drive away.
   
   Speaking of driving, Greenville-Anderson-Mauldin is centrally located between two of the major urban hubs of the South, Atlanta and Charlotte. Also worth visiting nearby are Knoxville, Huntsville, Charleston, Myrtle Beach, and Savannah.
   
   
6. Charleston/North Charleston, South Carolina
   
   With its rich history, beautiful scenery, and thriving economy, it’s no surprise Charleston-North Charleston, South Carolina was named a great place for homeowners to consider moving out of state. With year-round idyllic weather, this coastal town off the Atlantic Ocean is perfect for culture and outdoor enthusiasts alike.
   
   As one of the oldest cities in the U.S., history lovers will appreciate the city's extensive historical monuments and buildings, including the Pink House and Fort Sumter. Charleston also offers a diverse culinary scene with seafood, Southern, foreign, Caribbean, and African cuisine options.
   
   For young adults and families, Charleston boasts a top education system with a variety of schools and colleges, including the beautiful College of Charleston campus. The city's strong economy, low unemployment rates, and prominent industries such as military, medical, and harbor fields make it an attractive destination for many.
   
   
7. Huntsville, Alabama
   
   If you are considering relocating out of state, Huntsville, Alabama is a great option to consider. Huntsville is known for its strong economy, with several major employers in the aerospace and defense industries, including NASA's Marshall Space Flight Center and Redstone Arsenal. The city has a low cost of living and a relatively low unemployment rate, making it an attractive option for those looking for employment opportunities.
   
   The area also has a strong sense of community and a high quality of life, with a variety of cultural and recreational activities to enjoy. Huntsville has a moderate climate and is surrounded by scenic natural beauty, with several state parks and hiking trails in the area.
   
   The city is also home to a top-rated education system, with several top-rated schools and universities in the area. Overall, Huntsville, Alabama offers a great quality of life at an affordable cost, making it a great option for those looking to relocate out of state.
   
   
8. Jacksonville, Florida
   
   If you’re thinking about a move out of state, Jacksonville, Florida should be on your radar. With a median home value below $300,000, this coastal city is perfect for beach lovers looking for a steal. Located in Northern Florida, just outside of the Georgia border, Jacksonville enjoys a milder climate than most of its neighbors, and outdoor activities like paddleboarding and kayaking can take place year-round.
   
   Out of state job seekers can find steady employment in Jacksonville’s thriving healthcare, logistics, and finance sectors. The area is home to Mayo Clinic and Baptist Health, as well as insurance giants like Aetna and Blue Cross Blue Shield. In addition, Jacksonville's growing tech sector offers job opportunities in software development, IT, and cybersecurity. The city is also home to Naval Station Mayport, one of the largest naval bases in the country, and the Jacksonville Port Authority, which provides jobs in logistics, transportation, and manufacturing.
   
   
9. San Antonio/New Braunfels, Texas
   
   If you are a veteran looking for a city to relocate to, San Antonio might be just the place for you. With 15 VA hospitals located within 50 miles, you can be assured that your healthcare needs will be taken care of. San Antonio is also home to the US Defense Department's only Level 1 Trauma Center, providing the highest level of care for those in need. Additionally, the city is home to more than 300,000 active military personnel, making it a great place to connect with other members of the military community.
   
   In addition, the region home to several parks and nature reserves including the city's largest park is the 343-acre Brackenridge Park, and the Japanese Tea Garden, which was originally built as a quarry in the early 20th century and later transformed into a tranquil garden space.
   
   The city has a warm climate, with mild winters and hot summers, making it a great place to enjoy the outdoors year-round. With its attractive mix of affordability, strong economy, and culture, San Antonio-New Braunfels is an excellent option for those looking to move out of state.
   
   
10. Knoxville, Tennessee
    
    Knoxville, Tennessee, has a bustling downtown while boasting a low cost of living, making it a great option for those looking for value. The city has a vibrant arts and culture scene, with theaters, galleries, and music venues. Knoxville also hosts several annual events, including the Dogwood Arts Festival and the Big Ears Festival, attracting visitors from across the country.
    
    Just a short drive away from Knoxville, is the Great Smoky Mountains National Park, which offers everything from hiking and camping to skiing and snowboarding. Knoxville is centrally located near many major cities; less than two hours away is Nashville and three hours away is Atlanta, making air travel easy and convenient. 

How to work with a lender when you’re planning to move out of state

If you’re looking to move out of state, you will need to work with an experienced lender, who understands the unique needs of your situation. A lender like Mutual of Omaha Mortgage can help you find the best loan options in your desired area and guide you through the process, regardless of zip code. 

Remember to do your research, have fun visiting the cities on your list and stay flexible as the homebuying process can take a bit longer when relocating to a new state. By staying organized and working closely with your mortgage lender, you can successfully purchase your new out-of-state home and start your exciting new chapter with confidence.

Source: 

https://www.nar.realtor/magazine/real-estate-news/10-housing-markets-expected-to-lead-the-nation-in-2023