Trussville named one of top cities in America to build wealth
By Chris Yow
TRUSSVILLE — A recent study named Trussville as the 26th best city in the United States in which its residents are able to build wealth. Trussville ranked only behind Madison in the state.
LendEDU‘s study was based on a number of factors, including median earnings from income, median home value, average monthly cost of home and property tax rates.
“The purpose of our list is to recognize the American cities that are most conducive to both saving and making money,” a statement read. “For example, a city where homes are more valuable would indicate an opportunity for a potential home-buyer to make a profitable investment. Additionally, a city where property taxes are low would give a person the chance to save money.”
Additionally, the study said it was not intended to predict any future millionaires, but rather whether citizens would have the ability to purchase a second home, pay for a child’s education or retire comfortably. In those regards, Trussville residents are among the most likely to accomplish those goals.
Mayor Buddy Choat said Trussville’s inclusion on a list like this is tremendous, but not a surprise.
“I’m not surprised that Trussville is included in this list because we know the value of our community and the people who reside here,” he said.
The full list, along with the data used to compile the list is below.
|Rank||City||State||Income||Home Value||Cost of Home||Tax Rate||Score|
|2||Forest Hills||New York||55,063||368,300||1,451||1.62%||71.12|
|12||Fort Mill||South Carolina||43,165||227,582||1,322||0.57%||68.05|
|13||Rego Park||New York||42,614||314,800||1,211||1.62%||67.92|
|25||Washington||District of Columbia||47,351||457,951||1,996||0.56%||67.64|