More than 630,000 people have moved from California to Arizona in the past 10 years — an average of 173 a day — making Arizona the second most popular U.S. destination for outgoing Californians.
Only Texas saw a larger influx from the Golden State, according to a new migration trends report from StorageCafe that considered not only raw numbers of people moving, but also where they came from and what kind of savings they could expect as a result.
For instance, people coming from California to Arizona typically can expect huge savings on their residences. The average price of a home in Arizona ($321,000) is less than half that of California ($659,000), according to the report, and Arizona apartment rents are 30% lower than those in California.
On top of that are tax savings. The report contrasted Arizona’s 2.5% income tax rate with California’s nation-leading 13.3%, and Arizona’s 4.9% corporate tax rate with California’s 8.8%.
Read more of this story from the Business Journal.
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Publish date : 2024-11-19 03:26:00
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