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With licensed real estate data deriving from the U.S. Census Bureau on over 25,000 American cities; each city was ranked according to its rent-to-income ratio, or the proportion of a city’s median household income that goes to annual rent costs (including utilities). A lower percentage was more favorable.
Specifically, Longwood had a rent-to-income ratio of 21.09%. It is generally recommended that a renter’s rent should cost no more than 30% of their annual income, so these numbers speak to Longwood’s proximity to high-paying jobs relative to the affordable housing in the area.
Longwood’s low rent-to-income ratio ranked #1,067 in the country and #15 in the state of Florida.
Congrats on the recognition. The cities and towns featured in this report, like Longwood, are great places for young adults to rent an apartment or home in because the availability of high-paying jobs makes rent only a small portion of their budgets, which means the opportunity to save will be there for the taking.