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AUSTIN TEXAS Best City for Young Families

Last week I spoke at multiple events in Southwest Florida along the Gulf Coast.  Not surprising, many of the markets were very pricey.  Naples-Marco Island, for example, ended up December 2015 with median and average prices of  $430,000 and $640,714, respectively.  That’s similar to San Diego’s $468,100 median price in December and Los Angeles’ $495,000.  What did surprise me was the affordability in some of the other nearby cities – Punta Gorda, North Port and Port Charlotte in particular.  The median home price in Punta Gorda in December 2015, for example, was just $180,000.  I commented in my speech that Punta Gorda would likely be a destination market for the Millennials in the region searching for a quality lifestyle with affordability. By Ted C. Jones: That is not the only market that is going to attract younger families.  ValuePenguin, a firm that assesses and studies insurance and other financial data, completed an analysis of the best cities for young families. They aggregated data for 156 cities.   Data analyzed included:  
  • Average Commute Time
  • Average Real Estate Taxes Paid
  • Crime
  • Divorce Rate
  • Economic Strength
  • Hospital Rankings
  • Income Versus Rent
  • Percentage of Children in the Population
  • Mortgage/Income Ratio
  • Poverty Rate
  • Proximity of Stadiums
  • School Ratings
  • State University Rankings
  • Unemployment Rate
  • Weather Rating
  These individual factors were then condensed into five rankings for Best Places for:  
  • Working Parents
  • Buying or Renting a Home
  • Education and Environment
  • Outdoor Activities
  • Safety and Healthcare
  So what were the top cities for young families in ValuePenguin’s study? To view the rankings of all 156 cities and obtain detailed information on ValuePenguin’s methodology click http://www.valuepenguin.com/2016/best-cities-young-families As with all rankings, changing the weightings and factors will change the outcome.  Do I agree with the factors included?  No, since I believe that the job growth rate is one of the most important factors for the long-run economic wellbeing of a city.   It makes no difference how nice the weather is for a young family if there are no jobs. Take a look and see how your city ranks.   Ted  
Ted C. Jones, PhD Chief Economist – Senior Vice President Stewart Title Guaranty Company – Stewart Information Services Corporation 1980 Post Oak Blvd., Suite 800 Houston, Texas 77056 O 713.625.8014| M 713.206.3442 stewart.com | ted@stewart.com Blog.stewart.com/ted    DrTCJ Twitter

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