11:12am

Fri January 24, 2014
Business

Nashville Metroplex Makes List of Top Ten Places to Own a Home

Credit nerdwallet.com

MURFREESBORO, Tenn. (WMOT)  --  The Nashville metro area has been named one of the best places to own a home by the personal finance website Nerdwallet.

In a study that looked at affordability, home ownership rates, and population growth, the Davidson, Rutherford, Williamson County metroplex placed 5th, just ahead of San Antonia, and just behind Indianapolis.

Nerdwallet analyst Jame Ortiz says the low cost of owning a home in the mid-state helped the area place in the top ten large metro areas in the nation.

“Homeowner costs are benchmarked at just 32 percent of household income. To put that in perspective, Harvard University found that some people are actually paying 50 percent of their income on rent.”

Ortiz says the area’s high rate of population growth indicates a strong economy, and that high rates of home ownership suggest housing costs are manageable.

Follow this link if you’d like to review the Nerdwallet study.