Miami Condo Market and Lifestyle Updates
South Florida in Top 5 Most Affordable Areas with Good Schools

South Florida in Top 5 Most Affordable Areas with Good Schools

by Sep Niakan | December 04, 2015

For many South Florida residents, the perceptions of glitz and glamour of highrise towers are appealing but prices are a bit of a turn off. A new report found, however, that South Florida actually has more affordable neighborhoods with good schools compared to other U.S. regions. South Florida is ranked fourth in affordable neighborhoods with good education access.

The report's methodology surveyed 7,200 zip codes, calculating median home prices and median incomes. Neighborhoods where a family must pay more than one third of the median income to purchase a house was deemed unaffordable. If the house was less than one third, then it was deemed affordable.

Of the 7,200 zip codes, about one-fourth (1,823) had at least one elementary school that posted test scores above the average for their state. Of those 1,823, only a third (631) was deemed affordable zip codes. Of that third, 20 of them were in South Florida, ranking it fourth in the nation for the number of zip codes that passed this criteria for affordability. Ranking higher than South Florida was Phoenix, AZ, Detroit, MI and Chicago, IL. Chicago ranked highest, with about one quarter of all affordable zipcodes

 

 

Source: therealdeal.com

Photo credit: therealdeal.com

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