Earning

8 Places That’ll Actually Pay You to Live There

It’s no secret that where we choose to live can have a big impact on our finances, from the job opportunities we can access to the cost of living. Here’s another factor to consider: Some cities and states, seeking to attract younger, skilled workers, are now offering cash—just to live there.

Vermont is the latest to get in on the action, passing a law at the end of May that grants up to $10,000 to anyone willing to move there and work remotely for a company based outside Vermont. With the growing number of remote jobs available, that’s a viable option.

But Vermont’s not the only place incentivizing new residents.

Alaska

This state’s been paying residents to live there since the 1970s with its Permanent Fund Reserve. The payouts, funded by Alaska’s oil royalties, are divided up evenly among citizens and vary from year to year. In 2017, it was $1,100 per person. Alaska also offers a wealth of money-back and low-interest loan programs to people willing to move to the last frontier.

Baltimore, Md.

Help rebuild this historic city, and you’ll be rewarded. Baltimore offers $10,000 plus closing costs to people who purchase distressed properties through its Vacants to Value Boosters program. The city also offers a $5,000 incentive to qualifying homebuyers through its Buying in Baltimore program.

Detroit, Mich.

Got a sweet spot for the Midwest? Move to Detroit, and the city may hook you up with your next gig. Each year, Challenge Detroit selects about 30 young leaders to live, work (for its partner organizations) and give back in the city through its fellowship program.

Harmony, Minn.

Build a home in this small Minnesota town, and you can qualify for a cash rebate of up to $12,000, depending on the final value of the home. Best of all, Harmony’s home construction rebate doesn’t have any age, income or residency restrictions.

Kansas

Kansas wants to help you pay down your student loans. People who relocate into one of the state’s Rural Opportunity Zones can qualify for repayment of student loans up to $15,000 over five years. New residents may also qualify for state income tax waivers for up to five years.

Marne, Iowa

This town located between Omaha and Des Moines doesn’t offer cash, but if you want to build your own home that’s at least 1,200 square feet, it will gift you the land for free.

New Haven, Conn.

When you move to New Haven and buy a home, you can earn as much as $80,000 in incentives. The city’s Re:New Haven program offers $10,000 in down payment assistance for new homebuyers, $30,000 toward the cost of energy-saving renovations and up to $40,000 in college tuition for your children.

Editor's note: This story has been updated with clarifying information about Challenge Detroit.

acorns+cnbcacorns cnbc

Join Acorns

GET STARTED

About Us

Learn More

Follow Us

All investments involve risk, including loss of principal. The contents presented herein are provided for general investment education and informational purposes only and do not constitute an offer to sell or a solicitation to buy any specific securities or engage in any particular investment strategy. Acorns is not engaged in rendering any tax, legal, or accounting advice. Please consult with a qualified professional for this type of advice.

Any references to past performance, regarding financial markets or otherwise, do not indicate or guarantee future results. Forward-looking statements, including without limitations investment outcomes and projections, are hypothetical and educational in nature. The results of any hypothetical projections can and may differ from actual investment results had the strategies been deployed in actual securities accounts. It is not possible to invest directly in an index.

Advisory services offered by Acorns Advisers, LLC (“Acorns Advisers”), an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”). Brokerage and custody services are provided to clients of Acorns Advisers by Acorns Securities, LLC (“Acorns Securities”), a broker-dealer registered with the SEC and a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”). Acorns Pay, LLC (“Acorns Pay”) manages Acorns’s demand deposit and other banking products in partnership with Lincoln Savings Bank, a bank chartered under the laws of Iowa and member FDIC. Acorns Advisers, Acorns Securities, and Acorns Pay are subsidiaries of Acorns Grow Incorporated (collectively “Acorns”). “Acorns,” the Acorns logo and “Invest the Change” are registered trademarks of Acorns Grow Incorporated. Copyright © 2019 Acorns and/or its affiliates.

NBCUniversal and Comcast Ventures are investors in Acorns Grow Incorporated.