Affordability and return on investment are two key things for any prospective homebuyer to consider, and what makes Apopka appealing.
Most buyers try to find a home in a city where the monthly housing costs, including mortgage payments, are manageable. Also important is finding a community that is growing and desirable so when it’s time to sell, it’s likely going to return a profit from the initial investment.
Unfortunately, finding a city or town that meets both requirements can be tough since many of the trendiest places already have high home prices that reflect their desirability.
However, by using the most up-to-date housing data on over 25,000 U.S. cities, LendEDU compiled a list of the top 1,000 towns and cities that are not only soaring in desirability but are also still affordable for homebuyers that intend on using a mortgage.
The U.S. towns and cities that made the list are projected to grow the most over the next five years. These communities were also ranked according to its average monthly home cost, which factors in mortgage payments.
To be considered for this ranking, a city had to have a minimum population of 15,000. Further, a city had to then rank in the top 1,000 for its five-year population projection percent increase from its current population.
The “Median Monthly Home Cost” statistic for each city includes the monthly mortgage cost plus utilities.
Specifically, Apopka is projected to grow by 32.14% over the next five years, and the median monthly home cost in Apopka is listed at $1,410, which means it’s still very affordable despite its trendiness on the real estate market.
The cities included in the top 1,000 nationwide, and the top cities in the state, are not only the fastest growing but are also still very affordable for homebuyers, which makes them terrific locations to purchase a home, start a family, and eventually turn a profit when it’s time to sell. For the full report click here.
All data was licensed by LendEDU from Greatdata.com. GreatData’s data mainly derives from the U.S. Census Bureau. For data points like “Median Monthly Home Cost,” the data comes from the most recent U.S. Census Bureau update but GreatData also calculates and combines its own projections based on historical trends to provide the most up-to-date data. The “5-Year Population Projection Percent Increase From Current Population” figure comes from finding the percent increase from each city’s current population to its projected population in five years.