High property taxes in major metro areas like New York City, Philadelphia, and Chicago are pushing retirees to relocate to more affordable regions, according to a recent analysis. John Burns Real Estate Consulting shared a map showing U.S. areas with the highest and lowest property tax rates, revealing stark differences across the country.

In areas marked dark red on the map, such as parts of New York, New Jersey, and Illinois, property taxes exceed 2% of a home’s value. These taxes are a significant burden, particularly for retirees on fixed incomes. John Burns, CEO of the consulting firm, highlighted that many retirees are leaving these high-tax states in search of more budget-friendly options.

Conversely, states with low property taxes, like Nevada, Arizona, and West Virginia, have become attractive alternatives for retirees. These regions offer property tax rates below 0.5%, making them financially appealing for older adults.

Chris Porter from John Burns explained that retirees are often motivated to move by the affordability of housing and property taxes, with many being influenced by their younger family members who are also seeking more affordable living options. Florida remains the top destination for retirees, followed by Texas, Arizona, and the Carolinas. Myrtle Beach and West Virginia stand out for their low property taxes and growing popularity among older Americans.

These migration trends reflect broader shifts in the retiree population, with Southern and Western states leading the way.