I don't think the industry is in any kind of decline. It's shifting and will always be shifting. Sounds like your general area isn't showing any kind of force to keep work coming in, which is always a factor for smaller communities.
If you need to relocate, you don't need to live in LA or NY to do mograph. Theres Detroit, Chicago, Austin, Seattle, Denver, SF. Lots of different choices. LA is expensive, but I don't know any freelance mograph artists struggling to survive. Most are driving pretty nice cars, so there is definitely money to be made.
Don't call yourself a multimedia generalist. Sounds desperate. Hold true to what you are. Go buy the School of Motion Freelance Manifesto book. I think you'll find the inspiration in that to keep you going.