Over the last several months, we’ve been reporting on the robust housing recovery taking root in the Triangle.
Whether it’s home prices, home sizes or home permits, practically every operative metric used to measure the strength of the area’s housing market is ticking up. Now comes another report from personal finance website Nerdwallet that says there is basically no better place in North Carolina than the greater Triangle in which to own a home.
According to Nerdwallet’s “Best Places for Homeownership in North Carolina” rankingreleased on Monday, six Triangle-area towns are among the top 10 places in which to own a house in this state. Holly Springs took the No. 1 spot, while Fuquay-Varina, Wake Forest, Clayton, Apex and Morrisville helped fill out the list.
To determine the ranking, every North Carolina metro was evaluated on three main criteria:
- Homeownership rate to determine the availability of homes
- Median household income, monthly homeowner costs and median home value to assess the area’s affordability
- Population growth to assess whether the area is attracting new residents
In its report, Nerdwallet cited Holly Springs’ rapid population growth, saying the town has more than doubled in size since 2000. The report also noted that 88 percent of homes in Holly Springs are owned rather than rented – the highest rate among the state metros that were analyzed – and says the town’s median home value is $236,700.
Fuquay-Varina, ranked No. 3, is credited for its homeownership rate of 74.6 percent and median home value of $192,700.
Although Raleigh and Durham didn’t make this list, it should be noted that they played a significant role for the surrounding towns that did make the cut, since those two cities host the bulk of well-paying jobs in this region that create the purchasing power needed to buy homes in the first place.
For Nerdwallet’s full list, click here.