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Lancaster, PA – Not just a great place for business

by thiryj

Lancaster, PA Makes Forbes’ Top 10 Best Places to Buy a Home
The List:

1. Rochester, New York
2. Pittsburgh, Pennsylvania
3. Utica, New York
4. Oklahoma City, Oklahoma
5. Tulsa, Oklahoma
6. Lincoln, Nebraska
7. Raleigh, North Carolina
8. Lancaster, Pennsylvania

PA’s Amish tourism spot is also a good place to invest in a home.
Midpoint price: $169,500
Foreclosure rate: 0.44%
Price appreciation quarter-to-quarter and year-to-year: -2.6% / -4.4%
Year-over-year change in unemployment: -1.5%

9. Little Rock, Arkansas
10. Green Bay, Wisconsin

The list above appeared on Forbes.com on May 9, 2011.
The recent data was put together by real estate website
Zillow.com. In order to figure out the best places to purchase a
home in the country, Zillow.com looked at four statistical
measures in 125 metro areas as of the end of February. These
factors included affordability, as measured by home price to
income ratios; the unemployment picture (both the absolute
figure and how it’s trending over time); the foreclosure
situation; and year-over-year housing price trends.
“The list is populated by markets that did not participate in
the housing run up from 2000 to 2006 and therefore their
housing recession has been milder,” says Stan Humphries,
chief economist at Zillow.com. “These markets are very
affordable, where people are typically spending under 2.5
times their income on a house so it’s pretty affordable, and
they are now spending what they were paying in the 15 years
between 1985 and 2000.”
Source: “The Best Places to Buy a Home Right Now”,
Forbes.com (05/09/11)

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