Leaving Maryland for Virginia – most common reasons
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Both Maryland and Virginia are great places to live and there’s no doubt about it! Both states offer plenty of activities, beautiful nature, excellent schools, and many more. Whether you prefer an urban setting or a suburban lifestyle, it has it all. However, many people are deciding to move from Maryland to Virginia and that is for several reasons. It goes both ways of course, as there are plenty of people switching Virginia for Maryland. It really comes down to personal preference. In this article, however, we’ll get into the details of why people are leaving Maryland for Virginia. We at Helix Transfer & Storage have helped a lot of people move to Virginia and have heard a lot of personal stories and experiences. Let’s get straight into it so you can start planning and organizing your relocation.
Taxes are an important factor when leaving Maryland for Virginia
Taxes are one of the main reasons why people are moving from Maryland to Virginia, and we’ll explain why. For starters, in Maryland taxes are higher than in many other states. That’s because Maryland bases income taxes on personal income, and also implements that as a statewide tax! Let’s talk percentages. In Maryland, a personal income tax of 2% starts when you earn more than $1,000 worth of taxable income. After that, it increases up to 5.75% on all incomes that are greater than $250,000. No wonder why so many people are leaving Maryland. It’s the only state in the US with an estate tax and inheritance tax, and that’s not something many people are willing to pay. Finally, 401Ks, pensions, and IRAs are taxable in Maryland. Therefore, to sum it all up, Virginia is simply a better choice when it comes to taxes.
Job opportunities are one of the reasons why people are leaving Maryland for Virginia
Virginia is a state with a soaring job market, and many people are capitalizing on it. Almost 40% of people who left Maryland have done that because they found a better job opportunity. That doesn’t mean that Maryland is a state with few jobs lined up! It’s actually ranked in 43rd place when it comes to the unemployment rate! However, due to the lower cost of living and lower taxes, many people are heading over to Virginia to make the most out of their paychecks. That’s especially true for people who work remotely. If you are one of those people and enjoy working out of the comfort of your own home, make moving from Maryland to Virginia easy by choosing a reliable moving and storage company. That’s something that can really make your relocation a smooth and enjoyable experience!
A lot of people choose to retire in Virginia
As we’ve mentioned before, pensions are taxable in Maryland. That’s something that can leave retired people in a situation where they can’t enjoy their lives to the fullest. No one wants to worry about that and live with lesser funds than what they want or need. It’s a compromise many people are not willing to make, and why should they? If they can live elsewhere in a better financial situation, they should definitely go for it. Another reason why retirees move to Virginia is the lower cost of living. So, with fewer taxes to worry about, with a lower cost of living they can really make the most of their time in Virginia. Sounds like a great deal! If you are in this situation, make sure to take full advantage of what this great state is offering and start planning your move right away!
Cost of living
We’ve already said a few times that living in Virginia is cheaper than in Maryland. But what does it actually mean and how do they compare? If the average cost of living in the United States is 100, the cost-of-living index in Maryland is 113 whereas in Virginia is 103. Groceries in Virginia are cheaper than most of the places in the US, with an index of 99.6, and in Maryland groceries are at the 105.2 mark. That alone tells a lot, but there are a lot of other things that are cheaper in Virginia like:
If the cost of living is one of your main concerns, then Virginia is the right place for you! Start planning and organizing your move, search for a new house, and hire the best movers Arlington VA has to offer!
Education and schools
Virginia has many excellent schools so if you plan to enroll somewhere or have kids, it’s the right state for you! We’re going to mention a few schools that are of a high educational standard. When it comes to elementary schools, the 3 best elementary schools in Virginia are Arlington Traditional Elementary school, West Point Elementary School, and Arlington Science Focus Elementary School. Regarding high schools, the best ones are Maggie Walker Governor’s School, Thomas Jefferson High School for Science & Technology, and McLean High School. Finally, regarding colleges, the best colleges that Virginia has to offer are the University of Virginia, Washington and Lee University, and Willam and Mary. Don’t miss out on these great schools either for you or your kids!
How do prices of homes compare between Maryland and Virginia?
The average home value in Virginia is $376,644. The median rent value is $1,594. The figure obviously varies by the number of rooms you wish to have in your home. For instance, one-bedroom apartment rent is somewhere around $852, and a 4-bedroom house rent value is around $1,500. When it comes to Maryland, the median home value there is $406,250. The average rent is $1,969. It’s important to note that these figures vary between different seasons, but not too much so this gives you a pretty good perspective of what you can expect. Maryland has the 8th highest rent value in the US and Virginia sits at the 19th spot. So, there you have it! If you are closer to finalizing your decision on leaving Maryland for Virginia, get in touch with the reliable movers West Virginia has to offer and start organizing!
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