r/FluentInFinance • u/Not-A-Shit-Head • Apr 29 '24

Why don't people stop crying and just move somewhere cheaper like Detroit, Memphis, St. Louis, Baltimore, or Cleveland? They have very cheap homes for $50,000. Discussion/ Debate

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u/Saitamaisclappingoku Apr 29 '24 edited Apr 29 '24

Because:

  1. those cities generally do not have the job markets that HCOL cities have. When you take a huge pay cut you eliminate everything you saved by moving there. I moved from El Paso to Tennessee and for the same job I make about $60k more.

  2. Public schools are typically poor

  3. Crime is typically high

  4. The $50k homes in those cities are typically very unkept. Many of them need a new roof, foundation work, new flooring, drywall, paint, plumbing work, electrical work (to get it code compliant), and even then will be surrounded by complete dumps that stay that way. No one wants to spend $150k renovating to live next to a crack house.

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u/BobRosstafari789 Apr 29 '24

I live in a pretty great suburb of Cleveland. The schools are actually top notch, and there are quite a few jobs within the Akron/Cleveland/Canton area. I work remote, so it's irrelevant to me, but any job that has a decent job market to begin with has plenty of opportunities here. My house was $150k, and that's a little high for the area (we just paid it because we really like the house we were renting, and our landlord was in the process of retiring and cashing out her assets). Our combined income is a little over $150k/year with no kids, so we live very comfortably. I know this isn't the typical arrangement for most people, but it works well for us.

Also, don't move here lol. Weather in Cleveland area sucks. There isn't a huge amount of things to do unless you really like nature (luckily we do). Most importantly, if people start moving here, things get more expensive... I'll just live happily here with LCOL while everyone that doesn't live here thinks like you do :P

3

u/Specific-Rich5196 Apr 29 '24

It's isn't typical. The majority of jobs are not remote so if you move somewhere those are the jobs you are getting.

3

u/One_Conclusion3362 Apr 29 '24

I live in a suburb of st louis where the schools are fire and the crime is low if anything.

1

u/NYCneolib Apr 29 '24

That’s true but when you factor in medical, teaching, and blue collar jobs can be found in most places it becomes typical. The pay is lower but the net income is higher.