The highly regarded financial news and opinion website, 24/Wall St. has released its annual rankings, supporting your family’s decision to build in the Preston Retreat luxury home community, as Cary placed number six on the list of America’s 50 Best Cities to Live.
The website’s rankings of America’s 50 Best Cities to Live based its final tally and list on five major factors. These items included, population, median home value, poverty rate, percentage of residents with at least a bachelor’s degree, and amenities per 100,000 residents. One deceiving factor in Cary’s number six rating among America’s 50 Best Cities to Live was what appeared to be a higher cost of a home than most in the surrounding area at an average of $298,000. However, with the town’s median household income standing at a lofty $92,000 a year and Cary’s incredibly low cost of living, the median home value figure actually is far more affordable than that of Raleigh or the entire state of North Carolina on average.
In addition to an extremely low poverty rate (7.3 percent) an a higher than average number of residents with at least a bachelor’s degree (61.8 percent), Cary’s high placement among America’s 50 Best Cities to Live was helped gratuitously by its extremely low crime rate, thriving economy, and a competitive and affordable housing market.
The article accompanying 24/Wall St.’s list of America’s 50 Best Cities to Live further explained the factors in Cary being put at number six among all municipalities nation wide, saying, “The nearby Research Triangle Park (RTP), a corporate research center located between UNC-Chapel Hill, Duke University, and NC State, employs much of Cary’s qualified workforce. Only 3.7% of the city’s workforce is unemployed…one of the lowest unemployment rates of any city.” The piece concluded, noting, “Cary is also one of the safest places in America. In the past decade, the city’s population grew 44.9%, one of the largest increases nationwide.”
To see the entire listing and a more in depth analysis of America’s 50 Best Cities to Live, visit 24/7wallst.com.