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Purchasing a home can strain your finances, yet certain cities provide relocation incentives significant enough to alleviate some costs. In fact, some areas offer cash assistance that can cover at least 3% of the average home price—this amount aligns with the minimum down payment for a conventional mortgage. If you seek opportunities to build equity without depleting your savings, consider the following cities.
1. Jackson, Michigan
Average Home Price: $178,000
Incentive: $35,000
Down Payment Equivalent: 19.7%
New residents in Jackson can benefit from a program offering $25,000 in down payment assistance, along with an additional $10,000 from the Michigan State Housing Development assistance initiative, aimed at those purchasing one of the 100 new homes available at this price.
2. West Memphis, Arkansas
Average Home Price: $122,000
Incentive: $10,000
Down Payment Equivalent: 8.2%
West Memphis encourages remote workers earning $75,000 or more annually to relocate by offering a $10,000 incentive for purchasing a home within six months of moving.
3. Topeka, Kansas
Average Home Price: $200,000
Incentive: $15,000
Down Payment Equivalent: 7.5%
The Choose Topeka program offers up to $15,000 for eligible individuals who work a full-time role with a participating employer and meet additional criteria, such as buying a home within a year.
4. St. Joseph, Michigan
Average Home Price: $200,000
Incentive: $10,000-$15,000
Down Payment Equivalent: 5%
With the Move to Michigan program, relocating families can receive up to $15,000 when they enroll children in local public schools while also benefiting from perks like access to coworking spaces and transportation services.
5. Tulsa, Oklahoma
Average Home Price: $218,000
Incentive: $10,000
Down Payment Equivalent: 4.6%
If you are a remote worker living outside Oklahoma, the Tulsa Remote program provides a $10,000 relocation incentive upon meeting specific conditions.
6. Morgantown, West Virginia
Average Home Price: $278,000
Incentive: $12,000
Down Payment Equivalent: 4.3%
Through the Ascend WV initiative, you can claim a $12,000 incentive along with an additional $2,500 for outdoor gear rentals when you establish full-time residency.
7. Newton, Iowa
Average Home Price: $240,000
Incentive: $10,000
Down Payment Equivalent: 4.2%
The Newton Housing Initiative offers a $10,000 incentive for anyone purchasing a newly constructed home that will serve as their primary residence.
8. Mattoon, Illinois
Average Home Price: $120,000
Incentive: $5,000
Down Payment Equivalent: 4.1%
The Move to Mattoon Program includes a $5,000 incentive, plus services totaling an additional $3,000 to assist new residents. There are specific eligibility requirements regarding distance and income levels.
