In recent rankings, Arlington comes in as number 6 as one of the most affordable places to live! SmartAsset has recently released its study, “Top U.S. Cities to Buy an Affordable Family Home.”
Arlington is the highest-ranked Texas city in this study. SmartAsset has ranked Arlington in the top 15 “for housing costs as a percentage of income and high school graduation rate.” The average cost as a percentage of income and high school graduation rate is 21.93 percent and 90.50 percent, respectively. In the results of the study, SmartAsset reports that “a 20 percent down payment on the median-valued home in the city makes up only 60 percent of the median household income.”
One-third of the ranked cities are in Texas, and five of those cities are also in the DFW metroplex. According to SmartAsset, the ranked Texas cities “perform particularly well in terms of down payment-to-income ratio and high school graduation rate.” Of the nine Texas cities ranked this year, the company found that the average down payment-to-income ratio is 0.60 and the average high school graduation is 89.62 percent.
SmartAsset created its list based on reviewing data from 100 of the largest US cities. According to SmartAsset, the company conducted research on the percentage of homes that had at least two bedrooms, the change in homeownership rate over five years. In addition to these measures, SmartAsset also compared these cities’ down payment-to-income ratio, housing costs as a percentage of income, high school graduation rate, property crime rate and violent crime rate.
If you would like to learn more information about this study and what makes Arlington such a great place to live, please click HERE.