Is 2023 the Year To Move to NWA?

Despite being a relatively developing area, Northwest Arkansas has quickly become one of America’s best places to live. However, since more and more people are discovering the region, is there still time to move now?

2023 is an excellent year to move to NWA because housing is still cheap. The goal has always been to make them that way for average workers to afford them. Moreover, more money is coming into the region because the startups and established firms are moving here.

Continue reading this article if you are interested in a move here. I will first discuss what happened in 2022 and my thoughts on how 2023 will pan out.

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Why 2022 Was a Good Year To Move to Northwest Arkansas

People who took my advice to move to NWA in 2022 enjoyed the following benefits.

1. Affordable Housing

Northwest Arkansas was growing and will still grow because it has very affordable housing. Fayetteville and many other cities around the area have been on several charts and internet publications about inexpensive US locations.

It has very affordable housing, both for rental and home houses. The jobs, income, livability, mobility, etc., make the region incredibly affordable.

That was a significant driving force I foresaw in 2022, which came true.

Now if I have your attention, check out my article highlighting the most affordable housing in the NWA.

2. Direct Flights

The second fact I discussed regarding 2022 being a big growth year for Northwest Arkansas is that we have so many direct flights from the region to bigger cities, thanks to XNA’s addition of non-stop and one-stop flights.

That was a big win for NWA because numerous people are moving to and from the area, so it’s a big push to say, “Hey, you can move to Northwest Arkansas and have a direct flight from here to there.”

They added a couple of direct flights to XNA, which is a big deal for tourism, traffic, movers, etc.

3. Business Growth and Tax-Friendly State

NWA grew so much because it’s very business-friendly and tax-friendly.

In the past, Arkansas has a reputation for being one with a higher state income tax, but over the last eight years, it has decreased dramatically. That’s because Arkansas has a reasonable, balanced budget and surplus money to deploy against the state income tax.

Hence, they’ve reduced it quite a bit in the last couple of years, encouraging many businesses to move from their state to Arkansas. Most pick Northwest Arkansas specifically because it’s like the state’s gem, further sustaining its lower income tax.

Check out my article highlighting the top 5 businesses coming to NWA to get an idea of how the state is evolving.

4. Compound Growth

Last year, I also talked about compounding growth, which came to pass. We had such a compounding factor of people moving into the area because they’d tell more people who’d inform others, showcasing how excellent this place is.

Hence, the growth rate kept compounding over 2022.

Why 2023 Is the Best Year To Move to Northwest Arkansas

The following points are why 2023 is the best year to move to Northwest Arkansas

1. High Recreation Area

A significant reason 2023 is the best year to move to NWA is it’s a high recreation area.

Not only is NWA the mountain biking capital of the world, but we also have lakes and incredible outdoor sports. We have everything regarding recreation, from streams to rivers and different outdoor stuff.

There are very few places in America, let alone the world, where you can step outside your house and be on a trail system, lake, river, or any desirable recreational activity outdoors.

That makes NWA really unique as a high recreation area, which is one of the primary reasons people are moving here in 2023. People are tired of being indoors and driving everywhere for hours to get to a place to do something.

Why shouldn’t I live where I can literally step outside my house and do what I want to do? It makes sense to me.

2. Affordable Housing

This point is a throwback to 2022 because housing is still relatively inexpensive here.

The goal for Northwest Arkansas, especially its council, has always been to make housing affordable for firefighters, teachers, and police officers. That is the baseline.

Hence, they are avidly trying to create housing environments, cutting red tape to ensure everyone in that category can afford a home.

I love that because I don’t want to live in a high-floating, out-of-control, expensive area. That’s not why I love this region.

I moved here from Chicago because that area is a “dumpster fire,” creating an unsustainable effect. Conversely, Northwest Arkansas has built a very sustainable growth pattern that allows for building affordable housing in the region.

Therefore, NWA will grow exponentially in 2023, specifically for this reason.

3. Big Money Is Coming Here

Another reason 2023 is the year to move to Northwest Arkansas is that there’s so much “big money” coming here.

It’s funny because there are so many investment firms, startups, and businesses moving to Northwest Arkansas, and you may be thinking, what does that make a difference for me? Why do I care?

The fact is that when other big businesses or even startups move here, it just helps the consumer overall. NWA will and continues to be a hub for several innovative industries in America.

Hence, whether you’re in the medical field, outdoor field or recreation, startup culture, web 3.0, or even if you want to be in construction like a plumber, there are so many opportunities here, and more money is being put in here for those reasons.

As a consumer and someone who lives here, it’s one of those things that benefits the actual area because we get to experience better and more awesome things in Northwest Arkansas.

Therefore, that’s a sound reason 2023 will be a significant year for NWA.

4. Headquarters for the US Mountain Biking Team

NWA, Bentonville specifically, got chosen as the headquarters for the US mountain biking team. Hence, this will be where people come from across America to train and be on the US team.

Previously there have been places like Colorado, but Bentonville has cemented itself as the capital of mountain biking across America. At some point, we can say across the world, and that is my hope and dream.

Hence, NWA will benefit more and more from it because as these events come into play, as these new teams come to the area, people across America will come to train and become mountain bikers. It will bring the region more fun, businesses, and recreation.

Again, it will be one of those things with a compounding effect because if Bentonville is the US mountain biking capital of the world, more biking companies will come here, and even rock climbing companies since it’s a recreation area in America.

Therefore, if you enjoy the outdoors and want to be there more, exercising and maintaining good health, NWA is a perfect place because it is truly a recreational and outdoor-enthusiast area. And once again, the US has nationally recognized it for bikers in the whole nation.

5. Lower Income Tax

Last but certainly not least, we plan to lower the state income tax.

This year, we have a new governor talking about lowering the state’s income tax because Arkansas has a healthy budget. Regarding what happens in Arkansas, we manage our money very well compared to other states, like Illinois.

The general argument is, “Why don’t we lower the state income tax for residents here to have more money for recreation, businesses, startups, buying products, or saving?”

Not only that, but it’s also like an incentive for businesses to move here because if we can get the actual state income tax from 4% down to 3% or 2%, that’s a big motivation for companies to move their whole employee staff here.

Hence, they will likely use it as a marketing strategy, but it will also benefit us.

That’s why 2023 will be a fantastic year to move to Northwest Arkansas because, like in 2022, we’re on track to lower the state income tax here very soon.

If you still need convincing, check out my article for more reasons people move to Northwest Arkansas.

Conclusion

In 2022, I shared several projected reasons why everyone should’ve considered moving to Northwest Arkansas.

If you didn’t take my advice, you’re still in luck because you stand to gain the following benefits if you move here in 2023:

More Recreation Sites
Affordable Housing
Job Opportunities
Lower Income Tax