Jamestown ranks in affordability

Feb. 22--The study, from SmartAsset, a financial technology company that provides automated advice on personal finance, ranked Jamestown fifth among 12 North Dakota cities in the study, said AJ Smith, vice president of content for SmartAsset.

"Jamestown was able to achieve this ranking through outperforming the state averages in the categories of closing costs, property taxes, homeowner's insurance and average mortgage payments," Smith said. "Additionally, the state of North Dakota outperformed the national averages in median income and average mortgage payments."

Jamestown has the state's lowest average closing costs at $2,030, the report said. The city ranks fourth in annual homeowner's insurance and average annual mortgage payment, and fifth in annual property tax and overall affordability.

The study scored Valley City as best in overall affordability index rankings. Williston, Wahpeton and Devils Lake ranked ahead of Jamestown, with West Fargo, Dickinson, Mandan, Minot and Bismarck rounding out the top 10.

Nancy Allen, broker and owner of Midstate Realty LLC in Jamestown, said housing affordability is good for all price ranges in North Dakota. Jamestown ranks well as a centrally located city with growing business, good health facilities, schools and public safety that all adds to the quality of life to make it a great place to raise a family, she said.

"Interest rates have been good the last few years so that homebuyers can afford to lock in the home they would like to live in," Allen said. "Right now interest rates are beginning to rise, but they are still very affordable."

A 2015 SmartAssett study ranked Stutsman County third in the state and 92nd in the nation when it comes to low debt as a percentage of income. The debt index is a statistical analysis of individual burden of credit card, car payment, mortgage and other debt as a percentage of income.

To read the complete report, visit http://bit.ly/2kMPIF9.

tlaventure@jamestownsun.com

(701) 952-8455

___

(c)2017 The Jamestown Sun (Jamestown, N.D.)

Visit The Jamestown Sun (Jamestown, N.D.) at www.jamestownsun.com

Distributed by Tribune Content Agency, LLC.