Chester County Townships Fare Well in National Ranking

By Ryan Dosen

 

The Pennsylvania suburbs, specifically those in Chester County and Montgomery County, rank among the very best places to buy a home in America. The exciting news is brought to us by Niche (http://www.niche.com), a large content start-up that specializes in providing students, families, and professionals with helpful information for choosing a neighborhood, college, or school.

 

Factors for Ranking America’s Suburbs

Niche considered 11 different factors when comparing America’s suburbs. The factors receiving the most weight (12.5 percent) were home value to income ratio (the ratio of the median home value to the median family income), median home value, monthly housing cost, monthly housing cost to income ratio, and percentage of residents aged 25-44. Other factors of note included education grade (10 percent), crime and safety grade (7.5 percent), and median effective property tax (percent of the median property taxes paid on homes over the median home value). According to Niche, “a high ranking indicates that a suburb attracts residents with a good housing market where property taxes and housing costs are in line with value.”

 

The Top Suburbs in America

Pennsylvania is home to 16 of Niche’s top 60 suburbs and Chester County actually features 5 of Niche’s top 60 suburbs. One of fifty states having over 25 percent of the top places to buy a home is pretty impressive. Even more impressive is the concentration of top spots right here in our backyard.

 

West Conshohocken, Montgomery County, PA (Ranked 1 of 3,238)

West Conshohocken, PA is ranked by Niche to be the top suburb in America for buying a new home. Boasting a 3.5 : 1 home value to income ratio, a median home value of $315,700, a monthly housing cost of only $1,590, an “A+” education grade, a 71.1 percent home ownership rate, and a median effective property tax rate of 0.79 percent, West Conshohocken, PA has the best numbers in the country.

 

Upper Uwchlan Township, Chester County, PA (Ranked 15 of 3,238)

Upper Uwchlan Township, PA is the highest ranked suburb in Chester County. Also offering an “A+” education grade, and upping the ante with a crime and safety grade of “A” and a 91.7 percent home ownership rate, Upper Uwchlan Township, PA is a great place to buy a home. Perhaps the biggest factor holding Upper Uwchlan Township back from having a top-10 ranking is a high median monthly housing cost of $2,542.

 

West Whiteland Township, Chester County, PA (Ranked 26 of 3,238)

West Whiteland Township, PA ranks high, with a relatively low median monthly housing cost of $1,630, an “A+” education grade, and a 73.4 percent home ownership rate. However, demographics keep this suburb from reaching the top of the list. 32.4 percent of West Whiteland Township residents are between the ages of 25 and 44; 40 percent of West Conshohocken, PA residents are aged in this prime zone.

 

Other Local Suburbs of Note

Tredyffrin Township, Birmingham Township, and East Whiteland Township are all located in Chester County, PA and all finish in the top-60 of Niche’s survey results (41st, 52nd, and 60th overall, respectively). Tredyffrin Township’s strengths are its “A+” education grade, 77 percent home ownership rate, and relatively low monthly housing cost of $1,614. Birmingham Township offers a stunningly high ownership rate of 97.1 percent and an “A+” education grade, but an older population (only 16.7 percent of residents between 25 and 44) hold it back from a higher rating. East Whiteland Township rounds out the top 60 with a very high median home value of $383,200 and a high home value to income ratio of 4.2 : 1.

 

Desirable Suburbs and Strong Markets

Philadelphia’s suburbs dominate the list of the top places to buy a home in America. By Niche’s numbers, our suburbs offer strong housing markets “where property taxes and housing costs are in line with value.” Indeed, our strong housing markets weathered the storm of the late 2000s better than most, and we are poised to do even better as the broader market starts to get back on track.

 

– Ryan Dosen manages the Wayne Megill Real Estate Team of Keller Williams – Brandywine Valley in West Chester, PA. Contact Ryan to inquire about buyer or seller representation or for more perspective on the local and national real estate market by emailing ryan@waynemegillteam.com or calling 610-399-0338. Please also visit the Wayne Megill Team real estate blog at www.PAHomesAndRealEstate.com.

 

This article was published by 21st Century Media and the Daily Local News (West Chester, PA). To read this article on the the newspaper’s site, please visit the Daily Local News.

 

 

To view all of Ryan Dosen’s 21st Century Media real estate columns, visit http://www.dailylocal.com/search?