In analyzing 83 different municipalities which had a population of 10,000 people or greater, the popular real estate blog look at six different criteria items in compiling their final top ten list of Most Affordable Places to Live in North Carolina. The categories looked at were median home price, adjusted median income, unemployment rank, food costs, utility costs, and other miscellaneous costs.
To calculate the adjusted median income, the median household income was first divided by overall cost of living. Then to accurately reflect the actual earned income of each household that number was multiplied by one hundred. In the area of miscellaneous costs, movoto factored in the area’s costs of restaurants, entertainment, clothing, and entertainment.
Expounding on the reasoning behind giving the town of Knightdale the number three position in the list of Most Affordable Places to Live in North Carolina, the article penned by Movoto staff writer by Natalie Grigson spoke not only of these items, but also gave accolades to Knightdale for being a young and “hip” town, saying, “With a median age of 30, Knightdale is one of the youngest, and arguably hippest towns in the Raleigh metro area (as residents will surely tell you.) But underneath it all, and perhaps what makes this possible, is the town’s affordability.”
Grigson went on to say in explaining the town’s ranking, “Knightdale has one of the lowest unemployment rates in our top 10, just 7.5 percent, and better still, those employees make a median household income of $74,707, adjusted for the town’s overall cost of living of 104.” She concluded, “And the cherry on top? This town ranked among the best for its miscellaneous costs; things like restaurants, clothes, and entertainment—great news for young families.”