Moapa Valley PROGRESS
A recent study put the Moapa Valley near the top of the list of best places for homeownership in Nevada. The study, done by consumer-focused website, NerdWallet has been working through all 50 states and determining in which communities are best to own a home.
In Nevada, the company looked at 34 communities with more than 5,000 residents to determine which are the best for homebuyers. Moapa Valley ranked at number 4 on the list. The number one community on the list was Silver Springs near the Lahontan Reservoir in northern Nevada. It was followed by #2 Spanish Springs near Reno and #3 Spring Creek near Elko. Winnemucca came in fifth place and Enterprise in sixth.
The next southern Nevada community on the list was Summerlin South which occupies the #8 position. Mesquite comes in at #14, North Las Vegas #15, Henderson #16, Boulder City #17 and Pahrump #18.
In ranking the communities, NerdWallet sought the answers to three main questions.
The first question looked at the area’s homeownership rate to determine the availability of homes.
“A low homeownership rate is likely a signal of competitive inventory, more options for renters rather than buyers and expensive housing,” said Cherise Fantus of NerdWallet. “Areas with a high homeownership rate led to a higher overall score.”
Moapa Valley’s homeownership rate was at 76.9% according to the study.
The second question dealt with affordability. The study looked at median household income, monthly homeowner costs and median home value to assess affordability and determine whether residents could live comfortably in the area, Fantus said.
The study found that Moapa Valley homeowners spend 35.2% of their median monthly household income on homeowner costs. The median monthly household income for Moapa Valley was $4,751.
Finally, the study measured population growth in the area to ensure that the communities were attracting new residents and showing signs of growth. Moapa Valley’s population grew 7.3% between 2010 and 2012, according to the study.
NerdWallet is a consumer-focused website dedicated to saving people money every day by helping them make better, more informed financial decisions. Click here for more information
