Thinking of relocating? They’ll pay you to live in these places
Most recently Tulsa, Oklahoma, has begun offering $10,000 to people who move there and stay one year — but there’s a major catch in Tulsa’s case: You can’t work in Tulsa.
The incentive program, called Tulsa Remote, targets remote workers and includes $2,500 toward relocation costs, a $500 monthly stipend and a $1,500 bonus at the completion of 12 months in the city.
The program follows a similar one signed into law in early 2018 by the state of Vermont.
Here are some other cities & states that will pay you to move there:
The city’s Buying Into Baltimore program offers a $5,000 incentive to use toward buying a home anywhere in Baltimore. The city also offers a Vacant to Value Booster, an incentive that pays $10,000 toward downpayment and closing costs to buyers who select homes in certain blighted areas.
The town of Curtis (population 900+) is offering a free lot to new residents who promise to construct a single-family home in its Roll’n Hills Addition, a residential development. The lots are all on paved concrete streets with utilities.
The small Midwestern town is offering a rebate of up to $12,000 to residents who build a home. The cash rebate comes with no age, income or residency restrictions.
This small city’s Free Home Site program is offering lots of land to people willing to relocate to a paved subdivision. The city’s 3,500 residents enjoy a rural landscape where buffalo and farm animals roam freely, according to its website.
Loup City, Nebraska
This town in the US heartland is offering free lots to people who move into its John Subdivision within a period of time. Some of the homes will be “Workforce” and “Market Rate” homes, where you must meet income restrictions.
The small rural community of 600+ people is offering new residents a free lot of land on which to build a home. Once selected, you have 120 days to start construction and must live there for at least 12 months after completion. The city will also waive all fees associated with utility hook-ups and permits. Kansas also has 77 rural opportunity zones that will waive your income tax for five years.
Marne, Iowa, about an hour from Des Moines, has a Free Lot program which offers residents the chance to build a home if they agree to move there. Homes must be a minimum of 1,200 square feet and no larger than two-stories high. Here’s the application.
New Haven, Connecticut
The city’s RE:New Haven is offering first time home-buyers up to $10,000 interest-free to use as a downpayment or on closing costs for a home. If you live in the house for five years, the loan is 100% forgivable.
New Richland, Minnesota
The city of 1,200+ people is offering a free 86 X 133-foot lot of land as part of its Homestake Subdivision. Stipulations include that you must build your home within one year after the land is deeded to you.
North Platte, Nebraska
By way of the WorkNP program, the Midwestern city is trying to attract people to work in its industrial factories by matching up to $5,000 the signing bonuses of its employers’ new hires. That means you could see a potential $10,000 windfall before you even clock in for your first shift.
St. Clair County, Michigan
St. Clair County’s Come Home Award Fund is a talent retention program that pays recent college graduates in STEAM-related fields up to $15,000 on a quarterly basis to come back to the county to live and work.
What you need to know before you pack your bags….
If you’re thinking of relocating to another city to work remotely, be aware that there will be some tax implications. In all cases, you’ll be required to pay taxes in the state you live in.
“You will have to pay income tax in Vermont even if you earn it outside of the state,” Joan Goldstein, commissioner of economic development for Vermont, tells CNN Money. “The whole idea of getting more people is because we need to broaden the tax base … but if you are moving from New York, taxes are less here.”