Website ranks Shelton as good place to own a home
Shelton ranks 11th out of 60 towns in Connecticut with a population over 5,000 in a survey of “best places for homeownership in Connecticut,” according to NerdWallet, a website focusing on financial topics for consumers.
The report is based on federal government data on the rate of homeownership, monthly homeowner costs as a percentage of median household income, median home values, and population change.
“Owning a home in Connecticut can be expensive — that’s why our methodology rates affordability, as well as population growth and home availability,” said Sara Collins of NerdWallet.
In the study, Shelton is 11th with a composite score of 71.4. The top-ranking town is Glastonbury Center with a score of 79. Other high-ranking communities are Southward Acres (part of Enfield), Terryville, Kensington and Simsbury Center.
Greenwich ranked last
Greenwich, which is last among the 60 towns in the report, has a composite score of 30.4.
Some of Shelton’s neighboring towns scored in the top 20 as well. Trumbull is 7th with a score of 73.8, Stratford is 13th with a score of 69.8, and Milford is 19th with a score of 66.8.
According to NerdWallet’s study, Shelton has a home ownership rate of 82.2%.
The median amount of selected monthly homeownership costs in Shelton is $2,375, and the median monthly household income is $6,980. Homeowner cost as a percentage of household income is 34% in Shelton.
Median home value is $360,700
Shelton’s median home value is $360,700, according to the report.
The final bit of information studied, population growth from 2010 to 2012, accounts for 33% of the total scores. Shelton’s population during this period grew 1.5%.
NerdWallet describes itself as “a consumer-focused website dedicated to saving people money every day by helping them make better, more informed financial decisions.”