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Because home prices are still scorching hot across much of the U.S., finding a place to live can be challenging. This is especially true if you have kids and need to find an affordable area with a decent school system and a strong job market.
While the factors that people have to consider when deciding where they want to live will vary by household, several elements typically make an area more enticing for a family.
With that in mind, LendingTree considered seven variables to help determine which of the nation’s 50 largest metros were the best for families with children:
- Median family income
- Median monthly housing costs for homes with a mortgage
- Homeownership rate among families with at least one child
- Unemployment rate for 25- to 44-year-olds
- Percentage of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma or an equivalent degree
- Average round-trip commute time
- Percentage of households with children
Though they aren’t all-encompassing, these factors were chosen because each tends to directly impact households with children. As a result, areas strong in these categories are more likely to be better for families than areas weak in them. For more on why these specific variables were chosen, keep reading to see our methodology.
Image Credit: nd3000/istockphoto.
Methodology
The data in the LendingTree study comes from the U.S. Census Bureau 2019 American Community Survey (the latest year available). The seven variables that make up the overall ranking were all weighted equally. They were chosen for the following reasons:
- Median family income: Higher incomes make it easier for families to afford necessities.
- Median monthly housing costs for homes with a mortgage: The less money a family has to spend on a house, the more money they have left for other expenses.
- Homeownership rate among families with at least one child: Homeownership can benefit families for various reasons. Not only can owning a home help families build intergenerational wealth, but homeowners can also tap into their home’s equity if they need extra money for expenses like medical debt or college. If an area has a high homeownership rate among families, it suggests that it’s more attainable for those that live there.
- Unemployment rate for 25- to 44-year-olds: The lower the unemployment rate in an area, the easier it is for parents to get a job and support their families. The study explicitly focused on the unemployment rate of 25- to 44-year-olds, as adults who fall into this age range are likely to have children younger than 18.
- Percentage of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma or an equivalent degree: One way to gauge school quality is to look at how many students complete high school. The larger the share of 16- to 19-year-olds who aren’t enrolled in school and don’t have diplomas, the worse an area’s schools and education system are likely to be.
- Average round-trip commute time: Taking care of a family is time-consuming, so areas where parents spend less time commuting could be better fits for families.
- Percentage of households with children: Typically, more children living in an area means more schools and day care centers for families. Further, families might have an easier time fitting into a community if they aren’t the only ones with children.
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25. Dallas
- Median family income: $85,982
- Median monthly housing costs for homes with a mortgage: $1,870
- % of families who have at least one child and own their home: 62.00%
- Unemployment rate for 25- to 44-year-olds: 3.80%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.60%
- Average round-trip commute to and from work (in minutes): 57.2
- % of households with children: 36.20%
Image Credit: Deposit Photos.
24. Jacksonville, Florida
- Median family income: $77,465
- Median monthly housing costs for homes with a mortgage: $1,502
- % of families who have at least one child and own their home: 64.20%
- Unemployment rate for 25- to 44-year-olds: 4.50%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 1.50%
- Average round-trip commute to and from work (in minutes): 54.6
- % of households with children: 29.70%
Image Credit: DepositPhotos.com.
23. Denver
- Median family income: $106,000
- Median monthly housing costs for homes with a mortgage: $2,009
- % of families who have at least one child and own their home: 69.40%
- Unemployment rate for 25- to 44-year-olds: 2.80%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 3.60%
- Average round-trip commute to and from work (in minutes): 57.6
- % of households with children: 29.60%
Image Credit: DepositPhotos.com.
22. Virginia Beach, Virginia
- Median family income: $83,854
- Median monthly housing costs for homes with a mortgage: $1,673
- % of families who have at least one child and own their home: 57.20%
- Unemployment rate for 25- to 44-year-olds: 4.80%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 1.20%
- Average round-trip commute to and from work (in minutes): 49.2
- % of households with children: 31.60%
Image Credit: DenisTangneyJr.
Tie-20. Boston
- Median family income: $119,950
- Median monthly housing costs for homes with a mortgage: $2,482
- % of families who have at least one child and own their home: 68.20%
- Unemployment rate for 25- to 44-year-olds: 3.30%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 1.70%
- Average round-trip commute to and from work (in minutes): 65.2
- % of households with children: 28.00%
Image Credit: DepositPhotos.com.
Tie-20. Seattle
- Median family income: $112,094
- Median monthly housing costs for homes with a mortgage: $2,359
- % of families who have at least one child and own their home: 65.10%
- Unemployment rate for 25- to 44-year-olds: 3.20%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.00%
- Average round-trip commute to and from work (in minutes): 63.2
- % of households with children: 29.60%
Image Credit: aiisha5 / istockphoto.
19. Austin, Texas
- Median family income: $99,227
- Median monthly housing costs for homes with a mortgage: $1,992
- % of families who have at least one child and own their home: 66.10%
- Unemployment rate for 25- to 44-year-olds: 3.20%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 3.50%
- Average round-trip commute to and from work (in minutes): 55.4
- % of households with children: 31.90%
Image Credit: RoschetzkyIstockPhoto / istockphoto.
18. Oklahoma City
- Median family income: $76,371
- Median monthly housing costs for homes with a mortgage: $1,360
- % of families who have at least one child and own their home: 62.20%
- Unemployment rate for 25- to 44-year-olds: 3.80%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 3.40%
- Average round-trip commute to and from work (in minutes): 47.4
- % of households with children: 32.00%
Image Credit: DepositPhotos.com.
17. Milwaukee
- Median family income: $86,415
- Median monthly housing costs for homes with a mortgage: $1,551
- % of families who have at least one child and own their home: 62.00%
- Unemployment rate for 25- to 44-year-olds: 3.60%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.50%
- Average round-trip commute to and from work (in minutes): 47
- % of households with children: 28.20%
Image Credit: istockphoto.
16. Buffalo, New York
- Median family income: $78,893
- Median monthly housing costs for homes with a mortgage: $1,287
- % of families who have at least one child and own their home: 65.70%
- Unemployment rate for 25- to 44-year-olds: 3.40%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 3.00%
- Average round-trip commute to and from work (in minutes): 43.4
- % of households with children: 25.60%
Image Credit: istockphoto/Hsa_Htaw.
15. Pittsburgh
- Median family income: $85,283
- Median monthly housing costs for homes with a mortgage: $1,316
- % of families who have at least one child and own their home: 72.60%
- Unemployment rate for 25- to 44-year-olds: 3.90%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.10%
- Average round-trip commute to and from work (in minutes): 55.4
- % of households with children: 23.00%
Image Credit: istockphoto/f11photo.
Tie-13. Richmond, Virginia
- Median family income: $90,921
- Median monthly housing costs for homes with a mortgage: $1,565
- % of families who have at least one child and own their home: 66.00%
- Unemployment rate for 25- to 44-year-olds: 3.80%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.20%
- Average round-trip commute to and from work (in minutes): 51.8
- % of households with children: 28.60%
Image Credit: DepositPhotos.com.
Tie- 13. Indianapolis
- Median family income: $82,637
- Median monthly housing costs for homes with a mortgage: $1,284
- % of families who have at least one child and own their home: 69.60%
- Unemployment rate for 25- to 44-year-olds: 4.10%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 3.50%
- Average round-trip commute to and from work (in minutes): 51.2
- % of households with children: 29.70%
Image Credit: Deposit Photos.
12. Charlotte, North Carolina
- Median family income: $82,452
- Median monthly housing costs for homes with a mortgage: $1,430
- % of families who have at least one child and own their home: 66.10%
- Unemployment rate for 25- to 44-year-olds: 3.80%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.70%
- Average round-trip commute to and from work (in minutes): 55.4
- % of households with children: 32.20%
Image Credit: DepositPhotos.com.
11. Hartford, Connecticut
- Median family income: $101,867
- Median monthly housing costs for homes with a mortgage: $1,961
- % of families who have at least one child and own their home: 69.50%
- Unemployment rate for 25- to 44-year-olds: 4.20%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 1.90%
- Average round-trip commute to and from work (in minutes): 48.4
- % of households with children: 26.50%
Image Credit: depositphotos.com.
10. Washington, D.C.
- Median family income: $126,378
- Median monthly housing costs for homes with a mortgage: $2,417
- % of families who have at least one child and own their home: 66.80%
- Unemployment rate for 25- to 44-year-olds: 3.40%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.00%
- Average round-trip commute to and from work (in minutes): 71.2
- % of households with children: 32.30%
Image Credit: rarrarorro/istockphoto.
9. San Jose, California
- Median family income: $149,856
- Median monthly housing costs for homes with a mortgage: $3,533
- % of families who have at least one child and own their home: 55.50%
- Unemployment rate for 25- to 44-year-olds: 3.10%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 1.20%
- Average round-trip commute to and from work (in minutes): 60.6
- % of households with children: 34.40%
Image Credit: DepositPhotos.com.
8. St. Louis, Missouri
- Median family income: $87,044
- Median monthly housing costs for homes with a mortgage: $1,418
- % of families who have at least one child and own their home: 70.20%
- Unemployment rate for 25- to 44-year-olds: 3.50%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.90%
- Average round-trip commute to and from work (in minutes): 52
- % of households with children: 28.30%
Image Credit: DepositPhotos.com.
7. Columbus, Ohio
- Median family income: $85,957
- Median monthly housing costs for homes with a mortgage: $1,516
- % of families who have at least one child and own their home: 63.30%
- Unemployment rate for 25- to 44-year-olds: 3.50%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.70%
- Average round-trip commute to and from work (in minutes): 50
- % of households with children: 32.40%
Image Credit: DepositPhotos.com.
6. Nashville
- Median family income: $86,035
- Median monthly housing costs for homes with a mortgage: $1,515
- % of families who have at least one child and own their home: 67.00%
- Unemployment rate for 25- to 44-year-olds: 3.10%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.40%
- Average round-trip commute to and from work (in minutes): 57
- % of households with children: 31.60%
Image Credit: istockphoto.
5. Cincinnati
- Median family income: $87,591
- Median monthly housing costs for homes with a mortgage: $1,380
- % of families who have at least one child and own their home: 69.40%
- Unemployment rate for 25- to 44-year-olds: 3.50%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.90%
- Average round-trip commute to and from work (in minutes): 51.6
- % of households with children: 30.60%
Image Credit: istockphoto/Scott Meyer.
4. Raleigh, North Carolina
- Median family income: $99,031
- Median monthly housing costs for homes with a mortgage: $1,626
- % of families who have at least one child and own their home: 68.10%
- Unemployment rate for 25- to 44-year-olds: 3.10%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.70%
- Average round-trip commute to and from work (in minutes): 54.8
- % of households with children: 35.10%
Image Credit: istockphoto/Mark Howard.
3. Kansas City, Missouri
- Median family income: $87,555
- Median monthly housing costs for homes with a mortgage: $1,519
- % of families who have at least one child and own their home: 66.70%
- Unemployment rate for 25- to 44-year-olds: 3.10%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.60%
- Average round-trip commute to and from work (in minutes): 47.8
- % of households with children: 31.30%
Image Credit: istockphoto/Sean Pavone.
2. Minneapolis
- Median family income: $105,945
- Median monthly housing costs for homes with a mortgage: $1,746
- % of families who have at least one child and own their home: 75.80%
- Unemployment rate for 25- to 44-year-olds: 2.60%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.30%
- Average round-trip commute to and from work (in minutes): 52.2
- % of households with children: 30.20%
Image Credit: DepositPhotos.com.
1. Salt Lake City
- Median family income: $91,939
- Median monthly housing costs for homes with a mortgage: $1,690
- % of families who have at least one child and own their home: 74.10%
- Unemployment rate for 25- to 44-year-olds: 2.10%
- % of 16- to 19-year-olds not enrolled in school who don’t have a high school diploma: 2.80%
- Average round-trip commute to and from work (in minutes): 46.6
- % of households with children: 35.60%
Image Credit: istockphoto/Sean Pavone.
Striking a balance
The LendingTree study considers different variables because there’s often no single aspect of an area that makes it appealing for families.
Moving to an area because it’s appealing in one category could be a good choice for some. But if you ignore all the area’s other aspects, you might be setting yourself up for disappointment. For example, San Francisco has the second-highest family income in the LendingTree study, but it also has some of the highest commute times and housing costs in these metros. A family that moves to San Francisco just because incomes in the area tend to be high may end up struggling in the face of these other drawbacks.
Regardless of your individual preferences, you’ll likely be better off if you look for an area that’s strong in many categories important to your family rather than fixating on an area that excels in only one category that your household cares about.
Image Credit: gradyreese.
Tips for finding a family home
Because houses are so expensive right now, finding an affordable family home might appear particularly difficult for many. Fortunately, there are various ways for families to find a decent place to live that won’t break the bank. Here are a few tips:
- Shop around to get your lowest possible rate on a mortgage. By shopping around for a mortgage before choosing a lender, you can increase your odds of finding a lower rate on your loan. The lower your rate, the more money you could save each month on housing payments and the more cash you could have left for family-related expenses.
- Use home equity to remodel your current place. If you’ve found that your family has seemingly outgrown your current home, that doesn’t necessarily mean you need to consider a move. Instead, tapping into your home’s equity could help you afford renovations that make your current home more suitable for your family. For example, a home equity loan can help you transform an office into a nursery, or a half-bathroom into a full one.
- Consider renting. Though the LendingTree study emphasizes homeownership, renting can still be a good option for many households. This is especially true when considering the fact that renting is usually considerably cheaper than owning.
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originally appeared on LendingTree.com and was
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