Low Taxes, Low Insurance Costs, and High Income were Factors; Designation is Second for Town
Contributed by Brian Bowman, knightdalenc.gov
Knightdale has been named the most affordable community in North Carolina for the second year in a row by real estate site, SmartAsset.com. The company determined that Knightdale’s combination of low taxes, low insurance costs, and high median incomes made it tops in the Tar Heel state.
“We found the total cost over five years of these four expenses—closing costs, taxes, insurance and mortgage payments—for the average home in every county in the U.S., and every city with a population greater than 5,000,” the authors noted in their methodology. “We then took that five-year cost as a proportion of median household income in each county and city to determine affordability.”
A typical Knightdale homeowner pays about $3,172 in closing costs and has a median household income of about $72,591. While the closing costs are a bit higher than the North Carolina average, the median household income is dramatically higher than the state average of $46,693. The value of the average Knightdale home is also likely to go up because of the community’s new amenities and enviable location in the metro Raleigh area.
“This ranking is another indication that our community and its growth are managed well,” said Mayor James Roberson. “Many places can claim to be cheaper than Knightdale, but we believe we’ve found a middle ground where the quality of life is high and costs are competitive.”
Knightdale is one of only two communities to reach this mark in the Triangle. Holly Springs was ranked number six on the list.
The top 10 included communities surrounding the Triangle, Triad, and Charlotte areas:
Knightdale has ranked high on real estate lists in recent years. Here’s a list of the most recent:
- 2016 – Happiest Cities in North Carolina (ranked sixth) – HomeSnacks
- 2015 – Most Affordable City in North Carolina (ranked first) – SmartAsset
- 2015 – 50 Safest Cities in North Carolina (ranked 44th) – Safewise
- 2014 – 50 Safest Cities in North Carolina (ranked 28th) – Safewise
- 2014 – 10 Most Affordable Places in North Carolina (ranked 3rd) – Movoto
- 2013 – 10 Safest Places in North Carolina (ranked 36) – Movoto
For more information on the Town of Knightdale, history, and local happenings, visit the official town website.
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