October 25, 2014

SH, Gardner rank high for homeownership, affordability

Danedri Thompson
dthompson@gardnernews.com
Gardner and Spring Hill rank among the top give cities in Kansas for home ownership, according to Nerd Wallet, a consumer advocacy website.
Spring Hill ranked number two in the state, behind only Andover, Kan., While Gardner ranked fifth. Derby, Kan., in third and Bel Aire, Kan., at fourth rounded out the top five.
Nerd Wallet analyzed state and federal data to rank cities in all 50 states.
The researchers found that more than 82 percent of Spring Hill residents own their homes. More than 73 percent of Gardner residents own their own homes.
“The data shows that homeownership across the state is affordable,” Maggie Clark, a Nerd Wallet analyst, said. “Homeowners in most of the communities in our top 20 list spend less than 30 percent of their median monthly household income on mortgage and utility costs, which is the standard of affordability set by the U.S. Department of Housing and Urban Development.”
According to the data, the median monthly income for Spring Hill households is $7,023, and the median in monthly income and spent on homeownership is $1,569, or 22 percent.
In Gardner, the median monthly household income is $5,381, and the media monthly amount spent on homeownership is $1,560, or 29 percent.
Analysts examined three critical factors when crafting their Kansas list. They asked whether homes were available, whether people could afford to live there and whether the city was growing.
The analysts determined that the media home value in Spring Hill is $169,800 and the community experienced 7.9 percent in population growth between 2010 and 2012. The media home value in Gardner is $160,800, and the city’s population increased by 9 percent between 2010 and 2012.
Other Johnson County communities to earn spots on Nerd Wallet’s list include Leawood at number 9, Olathe at number 10, Prairie Village at 15, and Shawnee at 17. Nearby Eudora ranked 13th.

View full results of the study, here.

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