ARCHDALE — Municipalities have long sought to lure millennials to their cities in hopes of infusing youth to an aging demographic.
Few strategies have proven as effective as reducing cost of living. Recent college graduates often seek affordable housing, food and fuel as primary factors when deciding to relocate. According to a list compiled by SmartAsset, a financial technology company, Archdale has positioned itself well among its peers.
Archdale is ranked No. 8 on a list of the 153 cities in North Carolina evaluated for affordable living.
“We're just proud of Archdale,” said Mayor Bert Lance-Stone. “We're honored to receive that type of recognition. Our council and staff work very hard to make this a place everyone would want to live, so we will just continue to keep on doing what we've been doing.”
This is the second time in four years Archdale has been recognized as a Top 10 North Carolina city for its affordability. In December 2015, OnlyInYourState.com tapped Archdale as its No. 1 city for affordable living.
Already located in a state known for its reasonable prices, sightseeing opportunities and outdoor activities, Archdale has managed to maintain additional advantages, including minimal property tax rates.
As the population across the state increases, the need for housing and the cost of living does likewise. Rent in places like Charlotte is, on average, well over $1,000 per unit and housing prices escalate from there. Young families and those who wish to live within their means are leaving larger cities and heading for small towns or suburbs.
Archdale also wasn’t the only local municipality to score well in the study. Trinity ranked 11th, Thomasville ranked 57th and High Point ranked 91st among 153 N.C. cities evaluated by SmartAsset in its fourth annual study of the most affordable places in America.
SmartAsset ranked each community on an affordability index weighing property taxes, homeowners’ insurance fees and mortgage payments against local median income.
Trinity is also no stranger to this list. Fourteen months after Archdale was ranked No. 1 in 2015, Trinity placed eighth on SmartAsset’s annual list. The combined area of Archdale and Trinity gets high marks for safety, as well as cost of living. Other considerations include the cities' proximity to Greensboro, High Point and Winston-Salem.
For additional information on the cost of living in some of the state’s most affordable cities, an interactive map and additional study details can be found at smartasset.com.
Staff writer Daniel Kennedy can be reached at 336-888-3578, or at email@example.com.