Are you looking to save money while also making a move? If so, relocating to a city that offers cash incentives to new residents might be an ideal option. In the current economic climate marked by high inflation and persistent mortgage rates, more people are opting to capitalize on such opportunities, as reported by U.S. News & World Report.

For many, these incentives present a compelling financial decision. According to Ralph McLaughlin, senior economist at Realtor.com®, the combination of a cash subsidy and lower home prices can be particularly enticing for households with minimal personal or professional ties to their current location. He explains, “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.”

This scenario is particularly advantageous for remote workers who are being priced out of their current housing markets. “Not only would cash compensation help such households get their foot in the door of the housing market, but many of the places offering such incentives also happen to have relatively low home prices,” McLaughlin adds.

Here are several cities currently offering cash and other perks to attract new residents:

Greater Rochester, NY

Program: Greater ROC Relocate

Incentives: Up to $9,000 in grants for home purchases in the nine-county region, and up to $10,000 in awards for individuals in targeted career fields.

Requirements: Candidates must be at least 18, eligible to work in the U.S., live at least 300 miles from Rochester, and relocate within six months of acceptance.

Why Rochester: Barb Egenhofer, director of talent strategy at the Greater Rochester Chamber of Commerce, mentions that over 170 people have already benefited from the program. She notes, “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.”

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Jacksonville, IL

Program: Make My Move

Incentives: A compensation package worth $9,300, including $5,000 in cash after living there for 12 months, a one-year membership to a driving range, a teeth-whitening package, and a three-month gym membership.

Requirements: Candidates must be at least 18, earn at least $50,000 annually, live 70 miles outside the Jacksonville region at the time of application, move to Scott or Morgan County within six months of acceptance, and remain a resident for one year.

Why Jacksonville: Kristin Jamison, president of the Jacksonville Regional Economic Development Corp., highlights the community’s charm and amenities. “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.”

Topeka, Kansas

Program: Choose Topeka

Incentives: Up to $10,000 for renting in the first year or up to $15,000 for a home purchase, with an employer-match component. There are also programs offering $5,000 to former Topeka residents and military personnel transitioning out of service.

Requirements: Candidates must have an on-site job in Shawnee County, Northeast Kansas, and rent or purchase a house within a year of hire or move.
Why Topeka: Bob Ross, senior vice president of marketing and communications for the Greater Topeka Partnership, touts the area’s amenities and cost of living. “We have world-class amenities and a cost of living that helps people thrive. 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.”

Tulsa, OK

Program: Tulsa Remote

Incentives: $10,000 in rental grants disbursed monthly or a $10,000 lump sum for purchasing a qualifying home, plus a three-year membership to a local co-working space.

Requirements: Candidates must be at least 18, eligible to work in the U.S., have full-time remote employment outside of Oklahoma, have lived outside of Oklahoma for one year before applying, and relocate to Tulsa within 12 months of approval.

Why Tulsa: Since its launch in 2018, over 3,000 remote workers have moved to Tulsa, with 74% still residing there. Justin Harlan, managing director of Tulsa Remote, shares that participants report significant positive lifestyle changes, including financial freedom to buy homes and start businesses.

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West Virginia (Eastern Panhandle, Greater Elkins, Greenbrier Valley, Morgantown, or New River Gorge)

Program: Ascend WV

Incentives: A total of $12,000 in cash incentives, with $10,000 disbursed in monthly payments during the first year and $2,000 after the second year. Additional benefits include free co-working space access and a one-year Digital Outdoor Recreation Pass for activities like snowboarding, rock climbing, and white-water rafting.

Requirements: Candidates must be at least 18, have a full-time job, verify employment and remote status, and work remotely from West Virginia for a company located outside the state.

Why West Virginia: The state is promoted as an ideal place to work remotely, start a business, buy a house, and raise a family, paired with stunning views and a remote work-friendly culture.

In conclusion, for those seeking a fresh start and financial incentives, these cities offer appealing opportunities to relocate and thrive. Each location has unique benefits and requirements, making it important to carefully consider which program aligns best with your personal and professional goals.

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