We all love a good list! Whether it’s the Top 10 Ways to Ruin a Wedding or 2017’s 100 Best Skateboarding Dogs, we are simply drawn to them. In fact, our brains may even be wired to like them.
At realtor.com®, our favorites always include real estate, which is why we love the iconic MONEY Magazine annual Best Places to Live issue.
It’s been going strong for 30 years and is always a must-read for everyone from first-time house hunters to seasoned professionals. This year realtor.com® became the first outside source to collaborate with MONEY, as we provided data on housing market costs and growth.
Although the communities that made it to the top 10 are all quite different, their housing markets share some key characteristics, including:
- Strong economies and a bright housing outlook. These markets should continue to attract new buyers and retain existing residents.
- Relative affordability. Even with the attention the MONEY Magazine report will bring, in most of the towns on the list, buyers on a budget will find opportunity.
MONEY‘s 2017 Top 10 Best Places to Live
- Fishers, Ind.
- Allen, Texas
- Monterey Park, Calif.
- Franklin, Tenn.
- Olive Branch, Miss.
- Dickinson, N.D.
- Lone Tree, Colo.
- North Arlington, N.J
- Schaumburg, Ill.
- Bozeman, Mont.
A lot of factors are considered in selecting the best places to live, here’s our perspective when it comes to what makes these the best places to live from a housing perspective:
- Fishers, Ind.
- Median Listing Price: $352,300
- Median Time on Market: 46 Days
- Projected Household Growth by 2022: 7.5%
- Projected Sale Price Increase Over Next Year: 3.7%
This isn’t Fisher’s first time at the Best Places to Live rodeo – it came in at number eight in 2010 and number 12 in 2012. There are many reasons for that, including the fact that it’s still pretty affordable: People have recently reported having success finding well-equipped starter homes for less than $200,000.
That’s thanks in part, to plenty of new construction – lately, there has been nearly one home built for every new household in the area, unlike much of the country. Its proximity to Indianapolis, great schools, and fun amenities like outdoor summer concerts and an award-winning farmers’ market, also combine to make Fishers a sure bet.
- Allen, Texas
- Median Listing Price: $416,200
- Median Time on Market: 36 Days
- Projected Household Growth by 2022: 10%
- Projected Sale Price Increase Over Next Year: 4.1%
Allen is h-o-t. Homes listed there have been getting about two times the number of page views on realtor.com® than the average listing nationwide. The Dallas suburb is also set to lead the top 10 in household growth – we expect it to increase 10 percent by 2020. People are gravitating to Allen for its increasingly vibrant, multicultural population and some of the best schools the Lone Star State has to offer.
- Monterey Park, Calif.
- Median Listing Price: $671,833
- Median Time on Market: 36 Days
- Projected Household Growth by 2022: 4.1%
- Projected Sale Price Increase Over Next Year: 6.9%
Once a bedroom community for those working in Los Angeles’ nearby Chinatown, today Monterey Park stands on its own as an amazing place to raise a family within the sprawling L.A. metropolis. Only 12 miles from Downtown L.A. and near several of L.A.’s all-important freeways, Monterey Park boasts great commuting options as well as amazing restaurants and attractions like the Vincent Price Art Museum to call its own.
- Franklin, Tenn.
- Median Listing Price: $599,933
- Median Time on Market: 39 Days
- Projected Household Growth by 2022: 9.6%
- Projected Sale Price Increase Over Next Year: 4.9%
Over the last three years, home prices in MONEY Magazine’s top 10 markets have grown a whopping four times faster than household incomes have. Franklin bucks that trend as a robust economy and lots of new home construction has helped incomes grow roughly at the same percentage pace of home prices. Homes aren’t cheap – with a median listing price of nearly $600,000 – but residents have easy access to booming Nashville, 21 miles south, as well as everything from Nissan’s North American headquarters to a vibrant live music scene of its own.
- Olive Branch, Miss.
- Median Listing Price: $236,566
- Median Time on Market: 57 Days
- Projected Household Growth by 2022: 4.7%
(Projected sale price not available)
Close to Memphis, Olive Branch combines a pleasant, small-town lifestyle with a wide variety of housing options. Homes are among the most affordable in MONEY’s top 10, and your money goes a long way here. A local real estate professional tells us that around $200,000 can buy a 2,220-square-foot home with 3 bedrooms, 2 ½ bathrooms, a game room and two-car garage. A new Memphis highway loop connecting through Olive Branch is expected to be completed in 2018, which should also pave the way for further growth.
- Dickinson, N.D.
- Median Listing Price: $237,133
- Projected Household Growth by 2022: 9%
(Median time on market and projected sale price not available)
Dickinson is another contender for the most affordable community in the list’s top 10. On average, mortgages equal less than 25 percent of residents’ income. In recent years Dickinson has grown by leaps and bounds, spurred by the boom in shale-oil production nearby.
A strong list of nearby corporations has fueled the job market and Dickinson State University helps provide a cultural center. Located about an hour drive from Bismarck, Dickinson has long had many of the components that make for an attractive place to live- good schools, a wide array of outdoor recreation options and a welcoming community.
- Lone Tree, Colo.
- Median Listing Price: $639,933
- Median Time on Market: 34 Days
- Projected Household Growth by 2022: 9.6%
- Projected Sale Price Increase Over Next Year: 6.4%
This summer, Lone Tree homes averaged only 34 days on the market – the shortest amount of time among MONEY’s top 10, and a full 30 days less than the U.S. average. That should come as no surprise, though to its residents, given its location in the ultra-hot Denver metropolitan area that has been among the fastest-growing areas in the country for years.
Median household incomes of $116,000 help residents afford the price of home ownership. Residents get great outdoor trails, views of the Rockies and quick access to all Denver has to offer.
- North Arlington, N.J.
- Median Listing Price: $603,133
- Median Time on Market: 47 Days
- Projected Household Growth by 2022: 2.9%
- Projected Sale Price Increase Over Next Year: 4.0%
Less than 15 miles from the heart of Manhattan, North Arlington is the kind of New Jersey town that enables residents to have their big-city cake and eat it too.
With lower-than-nearby property taxes and good access to important roadways, North Arlington is an ideal suburb for families looking for relatively affordable homes and doable commutes. Sports-loving residents also enjoy the easy access to MetLife Stadium, where the NFL’s New York Jets and New York Giants play.
- Schaumburg, Ill.
- Median Listing Price: $280,500
- Median Time on Market: 46 Days
- Projected Household Growth by 2022: 1.2%
- Projected Sale Price Increase Over Next Year: 2.0%
The Windy City suburb Schaumburg may be best-known in the Chicago area for Woodfield shopping center, but affordable homes and a strong school system make it a great option as a place to call home. And while asking prices in the area grew 9.5 percent over the past year, it’s also projected to remain a relatively reasonable choice, with household growth over the next five years projected to be only 1.2 percent and home prices expected to rise only 2 percent in the next year.
- Bozeman, Mont.
- Median Listing Price: $564,333
- Median Time on Market: 86 Days
- Projected Household Growth by 2022: 10.1%
(Projected sale price not available)
Located in southern Montana, the home of the Montana State University is a bustling community that is ideal for lovers of the outdoors, with easy access to skiing, rafting, hiking, biking and other recreation options. The number of households in the area is projected to grow 10.1 percent by 2022, close to four times the national rate and the highest growth among the list’s top 10. That’s in part thanks to a strong economy spurred by the likes of Oracle and Bozeman Health, as well as its growing reputation as a hub for tech startups.
(Click here for the full list and an in-depth analysis of each.)