Extreme pricing and home cost driving you out of the city?
Are you tired of the overcrowding, expensive property rates, property tax, and an unsettling state income tax? Move to Las Cruces, New Mexico! Life in the fast-paced city of San Francisco is fun, exciting, but painfully expensive. With property rates continually increasing, citizens are struggling to keep their homes. In 2019, San Francisco experienced homeless exceeding 8,000 people. With the city of San Francisco still adjusting to the wave of new citizens from the tech boom, more senior residents are struggling to access suitable housing. These dramatic population changes paired with an extreme cost of living make the California housing market as unsteady as ever, forcing many to move.
Leave your resume where it is, you can keep your job
Yes, San Francisco’s job market may beat that of Las Cruces, New Mexico. But the recent pandemic over 87% of companies moved to remote work, creating a shift in how industries perceive employee contribution and involvement. Remote work has become an essential cornerstone of business.
Over 80% of companies plan to allow employees to continue working from home once the pandemic ends. By 2025, it is expected for 22% of the US workforce will be remote.
Companies are aware if they want to succeed, they must embrace remote work. Any why not, with employees working remotely demonstrating 35%-40% more productivity than their in-office counterparts. It as companies become more accepting of permanent remote work, why not live somewhere that is more affordable, has access to the great outdoors, and 294 days of sunshine a year? Goodbye fog!
Okay, I’ll move, but to New Mexico?
Now you might be thinking why New Mexico, and in a sense, why Las Cruces, New Mexico? Well, it’s more affordable than San Francisco; significantly so. On the Best Places Cost of Living calculator, New Mexico ranks at 84, while living in California is at a staggering 217. This is more than twice the national average of 100. That is a difference of 157%, meaning not only are property rates cheaper, everything is.
In Las Cruces, you can leave the crazy California income taxes and property tax behind. New Mexico property tax is ranked 18th lowest in the country at only 1.7%-4.09%, while San Francisco’s rate stays predominant at 13.3%, some of the highest in the country. With stifling property values exceeding the norm, life for the average San Franciscan is becoming harder and harder every day.
How are you supposed to enjoy the natural wonders of San Francisco if you’re working exceptionally hard to sustain your home?
Las Cruces is not only a haven from the impending property tax, but it also has one of the lowest sales taxes. The Las Cruces sales tax is about 6.75%, while San Francisco’s is 8.50%. Las Cruces doesn’t need to implement such high stakes tax because the community is thriving, growing at a steady 1.2-2 % every year. This is a growth that you and your family can enjoy. The move to New Mexico allows you to keep more money in your pocket and regain control of your financial future.
What does the housing situation look like in New Mexico
When you get down to it, living in San Francisco isn’t the wisest investment. The average rent rate in San Francisco is $3,216, at least three times the national average. Meanwhile, Las Cruces’ offers average rent rates of $985, which seems like a steal! Property costs are significantly more reasonable in New Mexico as well.
The average property in Las Cruces has about three bedrooms sitting at around 1,692 square feet and costing about $102 per square foot. Meanwhile, the average house in San Francisco only has two bedrooms averaging 1,625 square feet and costing about $1.5-3.5 million or $311 per square foot.
But why rent when you can own your own home?
Over 50% of Las Cruces citizens own their homes. San Francisco is drastically different; only 36.7% of the citizens owning their properties, and around 63.3% renting. Las Cruces’ reasonable pricing allows you to finally own the home of your dreams for a fraction of the cost in San Francisco. Now is the best time to make a move to New Mexico; with mortgage rates as low as 3% for 30 years, the home of your dreams could be yours in no time.
If you are ready for a new home in Las Cruces, New Mexico, check out our available Grind Real Estate properties.