Affordable, Family-Friendly Cities Still Exist

Where do you go these days to find a place that is still affordable as well as a good town in which people can ideally raise a family? According to Realtor’s Clare Trapasso, go South, young man.

“The best areas for families with children tend to be midsize cities in Texas and Virginia, where homes are still considered ‘at least somewhat affordable’ according to a recent ranking from the Yardi Systems company StorageCafé, which used Yardi Matrix data.” Trapasso goes on to explain how the firm looked at nearly 30 factors—ranging from home and rental prices to public school rankings and strong job markets—in the 100 largest cities where data was available.

“Half of the top 10 cities had median home prices below the national price tag of $427,250 in September, according to Realtor.com data,” she says. “That’s become increasingly important to families as high prices and rising mortgage rates, combined with increasing rents and inflation, are hitting their budgets hard.” She cites Yardo Matrix’s Doug Ressler, who says people are looking at home prices, the cost of living, inflation, and child care. “They’re looking for places that maximize their budgets,” he says, and the top cities on the list “have access to good schools and amenities outside the house like parks, recreation, and restaurants.”

Plano, TX sits around 20 miles north of Dallas and was named the best city for families because of its top schools, strong local economy, and variety of family-friendly activities. There the median home list price in the city was $551,000 in September, according to Realtor.com. Next in line was Virginia Beach, VA, which has good schools, plenty of playgrounds, and low crime. And it’s on a coast, gets plenty of suns, and has a median home price of $385,000. Coming in third is Lincoln, NE, one of the most affordable cities on the list with a median price of $382,000. It offers reasonable rental prices, short commutes to work, and a wealth of parks. Other cities on the list are Boise, Raleigh, Arlington, Lexington, Chesapeake, VA, Austin, and Lubbock. The south’s got you covered.

Affordable, family-friendly places exist. In the end, however, it all depends on where you want to wake up in the morning.

Realtor, TBWS