|Huntsville Named a Best Place for Homeownership
NerdWallet considers availability, affordability, and area growth
San Francisco, CA (January 27, 2014) - NerdWallet, a consumer advocacy website, recently conducted a study to find the best places for homeownership in the United States - and Huntsville is in the top 30.
As renting becomes less and less affordable, NerdWallet wanted to give potential homebuyers a look at the current housing market. NerdWallet based its rankings on the following criteria:
Monthly homeowner costs
Monthly household income
NerdWallet ranked Huntsville as the best small metropolitan area in the country for homeownership. The area has a homeownership rate of 70.9 percent, and median monthly homeowner costs are $1,204. Huntsville homeowners spend just 26.6 percent of their income on homeowner costs.
"Huntsville is a great area to own a home," said NerdWallet analyst Jaime Ortiz. "The city is growing, and with such a small percentage of income spent homeowner costs, it is hard to find a better place to live."
Other metropolitans that made the cut include Myrtle Beach, Salt Lake City, and Indianapolis. Read the full study online.
For more information about NerdWallet, visit www.nerdwallet.com.
NerdWallet is a consumer-friendly financial literacy website that helps consumers make better financial decisions and save money on CD rates, checking accounts, credit cards and more. NerdWallet has been featured in The New York Times, Wall Street Journal and Reuters; our products have been recommended by consumer advocates Liz Weston, Clark Howard and Consumer Action.