In addition to recently being named by nerdwallet.com as one of the Cities on the Rise in North Carolina, the accolades continue to pour in for the city of Rocky Mount NC, as not only are you discovering “lifestyle redefined” with your decision to move to the Belmont Lake Preserve NC golf community, but your move will prove to be smart financially as well with Rocky Mount being included among the top 50 Most Affordable Cities in North Carolina.
The Most Affordable Cities in North Carolina study was conducted by the renowned real estate website, movoto.com, who looked at nearly 100 different North Carolina municipalities that have a population of 10,000 people or greater. To come up with their definitive list of the Most Affordable Cities in North Carolina, they analyzed the following categories: median home price, adjusted median income, unemployment rank, food costs, utility costs, and other miscellaneous costs.
In calculating the adjusted median income for each municipality in the study, first, the median household income was divided by overall cost of living. Then to accurately reflect the actual earned income of each household that number was multiplied by one hundred. In the area of miscellaneous costs, each of the area’s costs of restaurants, clothing, and entertainment was analyzed.
Listed at number 41 statewide among the Most Affordable Cities in North Carolina, the city ranked much higher in several of the categories regarding affordability, including a top ten placement in the area of “Median Home Price Rank.” Rocky Mount also was ranked in the top 15 for affordability in food/ restaurant affordability and the miscellaneous costs detailed above. The city’s income compared against cost of living ranking also placed 32nd statewide, and certainly factored into their inclusion in the top fifty.
To see the entire listing of the Most Affordable Cities in North Carolina visit movoto.com.