Anthony and Lisa Nicholas are among approximately 174,000 Illinois residents who have left the state since 2020.
“If it wasn’t as bad—the political landscape, taxes—all these factors—I would have stayed in Illinois,” Anthony says.
However, new business opportunities, warmer weather, and a lower cost of living have led this Chicago couple to relocate to northwest Arkansas.
Anthony notes, “I would say it’s a fifth of the cost of living—it’s probably a fifth of the cost of many things.”
Their new three-bedroom home, purchased for less than $360,000, exemplifies this cost difference.
“In Chicago, this would probably be anywhere between $500,000 and $600,000 depending on your location,” Nicholas adds.
According to recent figures released by the U.S. Census Bureau, high housing costs are a major reason why New York, California, and Illinois are the top three states losing residents. Illinois, often referred to as the “Land of Lincoln,” has seen its population decline for 10 consecutive years, losing residents in 87 of its 102 counties.
Chris Edwards, an economist at the Cato Institute, comments, “The Census Bureau actually surveys movers every year and asks them why they’re moving, but they don’t ask the tax question. But there’s no doubt that cost has
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