Marathon Co. ranks top 15 for affordable housing - WAOW - Newsline 9, Wausau News, Weather, Sports

Marathon Co. ranks top 15 for affordable housing

Posted:
MARATHON CO. (WAOW) -

In the past, Marathon County has been ranked highly for its hospitals and tourism. Now, it's being recognized for its affordable housing.

24/7 Wall St., a corporation based in Delaware, ranked Marathon County as the 15th most affordable county to live in in the United States.

The website reviewed home and rental costs in "379 U.S. counties with at least 100 home sales in the first quarter" of this year.

Marathon boasts a $683 median monthly home payment and a median monthly rent, for three bedrooms, at $964 a month.

But the ranking doesn't just consider these months costs. It also considered the average monthly income and how that compares to housing costs.

According to the report, residents in Marathon County spend on average 20.7% of their monthly wages on housing. That's much lower than the national average, which is over 30%, according to the U.S. Department of Labor.

Marathon County shares the top seats on the list with Oswego County, New York (ranked ninth) and Wayne County, Michigan (ranked fourth).

Trumbull County, Ohio sits at number one, where residents spend only 16.8% of their monthly wages on housing.

While these low costs sound great, the report cautions that hard economic times, poverty and low wages in these counties can contribute to the lower housing costs.

Powered by Frankly