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Posted on: April 21, 2020

Sanford Named Budget-Friendly City for Homeowners

lendedu

Sanford has been recognized by LendEDU as one of the most budget-friendly cities in the country for homeowners with a mortgage.

To rank cities, LendEDU used real estate data from the U.S. Census for more than 25,000 U.S. cities. Each city was ranked according to its percentage of houses where the mortgage costs 30 percent or more of the household income. A lower percentage was more favorable. 

Note: Sanford had one of the lowest percentages nationwide, which is indicative of the affordable home values in Sanford relative to the typical salaries in the area. 

Specifically, Sanford had a total of 11,072 houses with a mortgage, and only 2,976 of those houses had a mortgage that costs 30% or more of the household income, or 26.88%.

This low percentage ranked Sanford #608 in the country and #29 in the state of North Carolina. 

Read the full report here.


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