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The company I work for has "salary ranges" dictated by the COL in the area. For instance, you can have a certain job title in Connecticut and be assured $X dollars per hour, but a person in the same position in a South Carolina location might be paid $2 or more less per hour, due to the COL. So when someone says they want to move somewhere with a lower cost of living (or, for that matter, says they want to move somewhere with higher wages), I have to point out that the wages are typically set in reaction to the cost of living. The numbers aren't just made up in a vacuum. Similarly, food costs, rents, utilities, etc. are typically tailored to the local wage rates. Like the old saying, water seeks its own level.
I recall training new employees in one of our locations in Maryland. A new employee was hired off the street at the same salary I was making after four years with the company! I knew it had to do with the salary ranges, but it still smarted. I was living in South Georgia at the time and she was in suburban Baltimore--big difference in rents, utilities, and certainly taxation. She likely had a harder time making ends meet than I did after all was said and done.
We are relocating this month to a lower COL area than we are now (CT)
One of the biggest factors we considered when we reviewed offers was COL in the new area with the new salary. We got quotes from auto ins for our vehicles, looked in flyers to see what the grocery costs were, what cable/broadband options existed, etc.
The offer we accepted for DH brings us to an area with a much lower COL, no state taxes, lower electric costs (CT has one of the highest electric rates in the nation, just after Hawaii), and comes with housing all at the same salary. This will give us a very comfortable lifestyle in a more temperate climate. But there's tradeoff too, like most of the major shopping is about 40-45 minutes away. And we are further from our families.
Had we taken one of the other offers, we would still be struggling, just struggling with different bills. Maybe we'd have no heating costs, but our car insurance would be higher, maybe rent would be lower, but so would salary.. etc etc
You have to really analyze the areas you're looking at, more than just looking at what websites claim the COL is. I think people get a bit starstruck when they hear about how little a home costs in certain areas, and they forget that other things may be higher priced or that salaries are lower.
I grew up in MI and have lived in several areas since. And, yes, definitely people have unrealistic expectations about low cost of living areas. The problem is, they haven't experienced so cannot understand the reality. They come into the KS forum looking for that place where they buy a little house and live cheaply. First of all, if you look online at houses, they look MUCH different when you get there. There is also a reason why the houses are cheap as there are no jobs and houses are sitting empty. The notion that if you really want to work you can find a job is not necessarily true. Also, when you scan photos of their downtown areas, most of those buildings are probably closed and have been for years. When you are used to having shopping, medical personnel, movie theaters, restaurants, etc. near by, it seems that it is impossible to understand that you may have to drive an hour or more to get the services you need and it could be 2 or 3 hours or even more which is difficult to impossible in bad weather. It is surprising how many people do fail to research or just come and ask those people who have lived there entire lives in an area, "Is it friendly, nice, cheap, etc.?" Yes, it seems friendly to them and nice and they have nothing to compare with so.................
It just seems like TN in particular is seeing a lot of people wanting unrealistically cheap property, a reasonable commute to a city, and good schools - you get what you pay for.
I thought about your comment today: TN is getting touted in some circles as the new retirement mecca, and that's probably being pushed by local c of c's to increase the population.
I thought about your comment today: TN is getting touted in some circles as the new retirement mecca, and that's probably being pushed by local c of c's to increase the population.
I can't back this with numbers (yet), but I am from the Tri-Cities and the only people moving are retirees. Most people who need to work are leaving.
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