Every year there are articles rating the best and worst states to live in. These articles often review the best and worst states for retirement, for families, for home ownership in general…. they give readers various information and statistics on cost of living, property taxes, income taxes, and discuss migration patterns for home owners moving out of state. The number of people moving from Illinois to other states has been on the rise. There are a lot of reasons a person might make the decision to leave Illinois, and some of those might surprise you! Below we review some of the data regarding population migration. We buy houses Chicago IL, and we also offer a cash solution if you are one of the many people looking to sell an Illinois house quickly in order to make an out-of-state move.
Property Taxes
For homeowners, this is probably one of the most widely cited reasons for wanting to escape Illinois. Illinois property taxes are nearly double the national average. The U.S. Census Bureau reports the average American household spends $2,375 on property taxes for their homes each year. For Illinois homeowners, $2,375 would be welcome! In a 2018 study comparing all 50 states and the District of Columbia, WalletHub rated Illinois as the second worst state for property taxes. For a house with a value of $205,000 the annual property tax would be $4,705 or an effective rate of 2.30%. Only New Jersey had a steeper effective tax rate, which totaled annual property taxes of $5,064 on a home valued at $205,000.
Now of course, you can always move to an area in Illinois with lower property taxes. Property taxes are levied by county, and taxes in the southernmost counties are considerably more affordable. Hardin, Pulaski, and Wayne counties are the most affordable with averages of $508, $662, and $915 per year respectively. Compare this to the three Illinois counties which have the highest property taxes and you’ll see just how much of a swing there can be. Kendall, Winnebago, and McHenry counties average $6,450, $3,480, and $6,148 a year respectively. Now, homeowners probably shouldn’t use property tax rates alone to determine where to live. It’s always better to weigh all of the contributing factors such as job availability, pay rates, educational opportunities for children, and whether there are quality healthcare facilities locally in order to determine whether homeownership in a particular area is a good investment, and what kind of return you might be able to expect later if you sell. If you’ve decided enough is enough when it comes to high taxes in Illinois, you may just be ready to sell your house fast and be done with it. Go ahead and give us a call today at (630) 389-8232 or submit your information using the form below if you’ve ever wondered how you can sell your house quickly without all the hassle of listing it. We buy houses Chicago IL using cash, and we can help!
Retirement
Between 2009 – 2018, the number of people 65 years of age and older leaving the state of Illinois increased by almost 50%. The majority of high-income Illinois residents who leave the state are migrating to Florida. The state of Florida does not have an income tax, and the climate is well-known to be advantageous for aging individuals. About 20.5% of Florida’s population is retired, and there are an abundance of senior communities. Arkansas and Alabama are also on the list of best states for retirees, with low or no income taxes, affordable housing, and retirement communities.
Where does Illinois rate on the best/worst list of states for retirees? According to Retirement Living, Illinois received an overall rating of only 2.94. Connecticut and Rhode Island were the only two states which came in worse at 2.13 and 2.25 respectively. The ten best states include Arkansas, Florida, Alabama, South Carolina, West Virginia, Ohio, Delaware, Idaho, Kentucky and Arizona. See the whole list here. If you already know where you’d like to go for your retirement, and you’re ready to sell your Illinois house quickly, maybe selling your house directly to a professional cash home buyer is an option for you. We buy houses Chicago IL, and we work directly with homeowners who are done with all the upkeep, all the repairs and maintenance, and don’t want to remodel their home just to be able to list it on the MLS. We buy houses in ANY condition, and we even get rid of any unwanted personal contents or furniture people don’t want to take with them. Give us a call at (630) 389-8232 today to discuss your options, and see if Kendall Partners is a good fit for your home-selling goals!
Job Opportunities
Another reason many people leave Illinois is for a job transfer or new job opportunity. Even with a large city like Chicago and the surrounding expanse of suburbs, it seems that, according to a 2019 study by WalletHub, surprisingly most job opportunities are elsewhere! Since a large part of finding work is based on your location, where you live is an important decision and you may want to relocate to improve your job prospects. WalletHub compared 182 U.S. cities and found the most job opportunities in Charleston, SC, in Orlando, FL, in Columbia, SC, in Salt Lake City, UT, and in Cincinnati, OH. It found the highest employment growth in Reno, NV, in Glendale, AZ, in Boise, ID, in Phoenix, AZ and in Columbus, GA. The study goes on to name the best cities for highest and lowest average monthly salaries, unemployment rates, median annual income, commute times and most affordable housing. Overall, there are two cities in Illinois that made the list, and they were Aurora, IL at number 103 and Chicago at 142. They used 31 metrics graded on a 100-point scale to determine the ratings. This study was completed before the COVID pandemic which shut down most of Illinois and may have exacerbated the need to move and find work. If you’re faced with a job transfer or you’re moving to take a job out of state, you’re probably also feeling the pressure of selling your house, moving your family, and getting started somewhere new. If you want to sell your house quickly, without having to deal with the hassles and coordination of listing it and selling it after you’ve already moved, give us a call today to see if we can help. We buy houses Chicago IL and we can buy it in as little at 14 days from the date of contract. Call us for a fair cash offer today!
Aging Family Members
By 2030, the baby boomer generation will all be 65 years of age and older, resulting in every 1 in 5 U.S. residents at retirement age. Population growth will also change and older people will outnumber children for the first time ever in U.S history. Currently population growth is at an average of 2.3 million people a year, however, this will decline to only an average of 1.9 million per year between 2030 and 2040. Right now there are an estimated 3 working adults for every retirement age person, which will decline to about 2 per retirement age person by 2060. This data is based on the 2017 National Populations Projections and was revised in October of 2019.
As family members age and need more assistance, many find themselves moving to live closer to relatives who can help. This may mean finding an assisted living facility near loved ones who live out of state, or simply moving an aging parent in with children who have long left Illinois for other reasons. The need to move nearer to out-of-state family members who can care for an ailing family member is one of the main reasons we see homeowners selling quickly. Sometimes the point at which a loved one can no longer care for him or herself without support comes suddenly and unexpectedly, catching everyone off guard and adding pressure to a difficult situation. With a large portion of our population reaching retirement age soon, the need to sell a house fast will be one family members should prepare for.
We Buy Houses Chicago IL No Matter Why You Need to Move
At Kendall Partners, we know it can be difficult when you need to sell your house fast and make an out-of-state move. Whether you’re through with the high taxes in Illinois, you’re ready to retire to a more affordable state, or you have to move for work or for aging family, we can help. We’ve been buying houses with cash since 2007 and we have a quick, no-hassle process which allows you to sell your house directly to us without an agent, parades of showings, or having to pay all the commissions and closing costs you would pay when you list it on the MLS. We buy houses Chicago IL. We are professional and discreet, and we’ll work directly with you to help you sell your house fast! No need to even clean it out or make repairs, we handle all of that for you. Give us a call today at (630) 389-8232 or submit your information below to see if selling your house directly to Kendall Partners is a good fit for you and your family’s goals. Check out our testimonials and our 5-star Google Reviews!
It all starts with a short conversation about your house, then we’ll make a short 15-20 minute visit to walkthrough the property. You can even send us photos or a video of you walking through you house — right from your phone! We can have you a cash offer range within 24 hours. We buy houses Chicago IL and we buy your house with cash using our no-hassle home buying process. We are not a wholesaler — we actually purchase your house directly from you! We can buy your house with cash in as little as 14 business days from the date of contract, and we even pay your customary closing costs for you! You don’t pay for any agency fees or commissions, and we will buy your property in as-is condition. Give us a call today at (630) 389-8232 or submit your information below.