By Les Masterson
The financial website NerdWallet listed Wilmington as one of the best places for homeownership in Massachusetts.
According to NerdWallet data, Wilmington has a homeownership rate of 89.8 percent and monthly homeownership costs taking up just 27 percent of median monthly household incomes, making the town homebuyer-friendly.
There were several other reasons listed in the article that make Wilmington desirable place to own a home.
"Boasting of a short commute to Boston and a full range of municipal services, (Wilmington) is a great place to lay down roots," the article said. "The community is also drawing new businesses and offers classes and sports for kids and adults through the city recreations department. The town is also home to the Ristuccia Memorial Arena, the training center for the Boston Bruins hockey team."
Wilmington finished just ahead of Franklin on the list, followed by Reading, Burlington and Hudson rounding out the top ten.
NerdWallet reported that homeownership rates continue to rise and home sales climbed 5% in 2013 compared to the previous year. The site said “conditions are ripe for homeownership statewide,” but all 20 of the site’s picks are in eastern Massachusetts.
The site analyzed the numbers for 77 Massachusetts communities with more than 15,000 residents to look for the best places to own a home.
NerdWallet asked three questions:
- Are homes available?
- Can you afford to live there?
- Is the area growing?