Twinsburg escapes Forbes list

Title Twinsburg and Midwest escape Forbes ‘overpriced’ cities list
Media site: http://www.twinsburgbulletin.com
Primary URL: http://www.forbes.com/pictures/emeg45ikdk/introduction-2/
Co-Cities: Twinsburg, Ohio, and Tampa, Florida
By Christina Sturgis
Forbes has rounded up the usual suspects in the category of expensive real estate and dubbed them “overpriced” without naming a single location in the nation’s interior. That means the Midwest, Ohio, northeast Ohio, the Cleveland area, Summit County and Twinsburg have all escaped this negative designation.
First place on the overpriced list is a tie between Honolulu and the New York City metropolitan designation. The Paradise of the Pacific has a median home price of $430,000 in a region with a median household income of $86,300; meaning less than half the households — 46.8 percent — can afford the median home.
Not surprisingly, Honolulu has a very high cost of living, as it is located on an island with limited area for development and must important many things consumers need and want. The U.S. Census cost of living index puts Honolulu at 165.7 on a scale where the United States average is 100. Forbes scores Honolulu at 138.6 on this index and Sperling’s Best Places gives it a 188.
The Census Bureau breaks down that cost of living into six components and gives Honolulu a score of 249 for housing, meaning the cost of residence in Honolulu is just a hair less than two and half times the U.S. average.
If a tropical climate and strolls on the waterfront are what you seek, consider Tampa, FL, where Sperling’s Best Places rates the overall cost of living at 88, significantly lower than the U.S average. With a cost of living just below the U.S. average and 75.5 percent of households able to afford the median-priced home, the Tampa-St. Petersburg-Clearwater area is a bargain hunters’ paradise.
For someone with Midwestern roots and an aversion to humidity and crocodiles, Twinsburg looks pretty good. The cost of living is average, the median income is $71,528 and the median value for an owner-occupied unit is $209,100.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s