Why 'Just Move Somewhere Cheaper' Isn't the Simple Fix People Seem To Think It Is
If the cost of living in your coastal town feels daunting, moving inland might seem like the obvious option. However, this likely isn’t as cut and dry as it sounds.
More than just an address, the place you live is your home. Relocating can mean cutting roots that run deep and making expensive life changes.
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It’s easy to focus solely on one expense — i.e., lower home prices — but there’s a lot more to think about. Keep reading to find out why moving to a cheaper location might not be your ticket to financial freedom.
1. Moving Costs
Moving isn’t cheap. Specifically, the average cost to move a two-bedroom apartment 500 miles is $2,000, rising to $5,000 for a basic 3,000-mile move, according to Movers.com. Add packing and insurance, and it might be up to $5,700.
Upon arrival in your new town, you might need to — at least temporarily — rent storage space. This costs an average of $40 to $220 per month depending on unit size, according to Public Storage.
2. Childcare
Approximately one-third of parents rely on family or friends to help with childcare, according to a Care.com survey. If you have kids and currently rely on loved ones to help with childcare, you’ll need to factor this cost into your living expenses elsewhere.
You might be surprised at how quickly childcare costs can add up. Specifically, for two children, the average cost of daycare for is $585 per week or $952 per week for a nanny, according to Care.com.
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3. Travel
If you move away from family and close friends, you may go back to visit at least semi-often. You’ll need to factor in the cost of travel, as this would be an ongoing expense. This might be a minimal cost if you’re a quick road trip away, but long-distance is another story.
As of the fourth quarter of 2025, the average cost of a domestic, round trip airline ticket was $405, according to the Bureau of Transportation Statistics. For a family of four, this would be approximately $1,620 per trip on airfare alone.
4. Housing Market Differences
The difference in housing expenses might be the main motive for your move. Savings will vary greatly according to location, but hypothetically, assume you’re moving from Miami to Myrtle Beach, South Carolina.
The average rent in Miami is $3,200 per month, according to Zillow. As for home ownership, Zillow says the median sale price was $580,996, as of June 2026.
In Myrtle Beach, South Carolina, the average rent is $1,750 per month, according to Zillow. If you’re looking to buy a home, the median sale price is $321,339, as of June 8, 2026, according to Zillow.
Yes, in both cases that's a clear and huge savings, but you have to weigh in what life looks like in different housing markets: will there be the type of neighborhood you want to live in? Will you have the same rental opportunities? How long will it take to make a notable financial difference: renters might find it immediate, whereas homeowners could feel the same financial strain, just spread over longer mortgages or different rates.
5. Job Market and Salary Adjustments
Moving to a cheaper location might not result in an automatic pay increase. It’s not uncommon for areas with a higher cost of living to also have higher average salaries.
For example, the average annual wage in Miami is $67,190, according to the Bureau of Labor Statistics. Notably lower, the average annual wage in Myrtle Beach is $49,710 per year, according to the BLS.
It’s also possible the job market won’t be the same in your current coastal location as your new hometown. This could mean you’ll have a harder time finding a new job.
For example, as of March, the unemployment rate in Miami was 2.9%, according to the BLS. Myrtle Beach had an unemployment rate of 5.1%.
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This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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