2016 Best Suburbs to Buy a House Ranking Methodology
The 2016 Best Suburbs to Buy a House ranking provides a comprehensive assessment of the housing and community of an area at the suburb level. This grade takes into account key factors of a location's housing market, including home values, taxes, crime rates, and quality of local schools, in an attempt to measure the quality and stability of an area’s housing market.
|Home Value to Income Ratio||The ratio of the median home value to the median family income.||U.S. Census||15.0%|
|Median Home Value||The median home value for the area.||U.S. Census||12.5%|
|Monthly Housing Cost||The median monthly housing costs for homeowners.||U.S. Census||12.5%|
|Public Schools Grade||Average Niche grade for every public school serving the area, weighted by the number of students.||Niche||12.5%|
|Percent Change Median Home Value||The percent change in median home value.||U.S. Census||7.5%|
|Crime & Safety Grade||Niche's Crime & Safety Grade, which incorporates statistics that capture a location's general safety.||Niche||5.0%|
|Higher Education Rate||Percentage of residents who have received a bachelor's degree or higher.||U.S. Census||5.0%|
|Home Buying Age Newcomers||The percent of residents between the ages of 25 and 44 who moved into the area within the last year.||U.S. Census||5.0%|
|Home Value to Rent Ratio||The ratio of the median home value to the median price of rent per month.||U.S. Census||5.0%|
|Median Effective Property Tax||The percent of the median property taxes paid on homes over the median home value.||U.S. Census||5.0%|
|Monthly Housing Cost to Income Ratio||The ratio of the median monthly housing cost for homeowners to the median monthly household income.||U.S. Census||5.0%|
|Percent Own||The percent of people who own the property they live in, compared to renters.||U.S. Census||5.0%|
|Residents Age 25–44||Percentage of residents between the ages of 25 and 44.||U.S. Census||5.0%|
At the time of analysis, our database contained records for 8,729 suburbs. Of the suburbs that met the required qualifications, we were able to grade 8,721 and rank 6,961.
For more details about how we compute our rankings, click here.