Businessinsider.com has released a poll listing the top 15 Best Cities to Buy a Home in the U.S.” The top-ranked municipality from the “Tar Heel State,” landing securely in the Top 5 was Cary, NC.
Consistency and Strong Scoring Across all Categories for Cary
The rankings for Best Cities to Buy a Home in the U.S. show two major areas of analysis. From this research, a “total score” is then compiled. In comparing 300 cities across America, the personal finance experts from Business Insider looked to said two areas. These were, local real estate market and affordability and economic environment.
Looking at nearly 25 metrics within those two subject areas ranging from job growth to home price appreciation, each municipality scores of scale of 1-100. (100 being a “perfect” score) This score determined the final rankings of places to Buy a Home in the U.S.
A Booming Market can be Misleading
The experts at Business Insider explain that currently, “the real estate market is soaring.” While this sounds wonderful, the article featuring the Best Cities to Buy a Home in the U.S. tells a different tale.
“Falling unemployment rates and rising housing prices have led to a thriving market,” it reads. “However, rising mortgage rates mean less affordable homes.” Using the website Wallethub to help accumulate their final tally, Business Insider blogger, Hillary Hoffower further explains where the Best Cities to Buy a House in the U.S. are and why.
Where and Why are these the Best Places to Buy a Home???
“So, where are the best places to buy a house?” Hoffower continues, “the answer is about more than square footage and architectural style. It’s also about how healthy the local housing market is and whether people living there can actually afford to buy homes.” Cary was listed in the top ten of both areas used for the rankings among all 300 U.S. cities analyzed. The town had a final overall score just two points behind the number one city on the poll.
Cary, NC Rankings for Best Cities to Buy a Home in the U.S. Poll
- • Real Estate Market: 7 (out of 300)
- • Affordability and Economic Environment: 3 (out of 300)
- • Total Score: 71.07 (Top Score was 73.68)
For more information on the Best Cities to Buy a Home in the U.S., visit: businessinsider.com