For homeowners, a home is an investment, and most people will use a mortgage to finance that investment.
LendEDU crunched home value & mortgage data for over 25,000 U.S. cities to recognize those that give homeowners with mortgages the best return on investment.
To be considered for this ranking, a city had to have a minimum of 7,000 total households with a mortgage. The most up-to-date data and estimates were used from GreatData and from the U.S. Census Bureau. In addition, LendEDU calculated its own projections based on historical trends, to provide accurate and current household data.
After analyzing both home value and expense (monthly mortgage & utilities costs) data for over 25,000 U.S. cities, LendEDU ranked each city according to its Home Value-Investment Indicator (HVII), an original scoring method created specifically for homeowners with a mortgage and is meant to replicate return on investment. To get the score they divided a city’s median home value by the same city’s median monthly home cost (mortgage payment + utilities). A higher HVII meant a better ranking.
Apopka: ranked #46 in Florida, #828 in the nation, with median home value of $175,884 and a median monthly home cost of $1,370 to produce an HVII of 128.41
The places recognized in this report, like Apopka, give homeowners the most financial leverage due to their high home values relative to their low homeownership costs and would be great landing spots for any future homeowner.
Residents of Apopka should be proud of this accomplishment!