The City of O’Fallon has been rated one of the best places in Missouri in which to own a home. A recent study conducted by NerdWallet, a consumer literacy/personal finance website, considered “availability, affordability and growth” in assessing O’Fallon. The organization ranked the City as 5th in the state for homeownership.
This is the second time that the website has lauded O’Fallon. Earlier this year, O’Fallon made NerdWallet’s list of best cities for Missouri job seekers, with employers that include CitiMortgage and MasterCard’s St. Louis Operations Center.
“For a national organization to once again put our City in the spotlight is not only an honor, it helps residents and potential homeowners to see what O’Fallon has to offer in terms of true livability,” said O’Fallon’s Mayor, Bill Hennessy. “Families come first in our community, and O’Fallon’s latest ranking as one of the top cities in our state for homeownership as well as for job seekers is extremely important.”
To come up with homeownership rankings, NerdWallet compared 52 communities with populations of more than 15,000. Using U.S. Census data and information from the U.S. Bureau of Labor Statistics, the website looked at homeownership rates, select monthly homeowner costs, monthly household income and population growth. The study found that the O’Fallon area has a homeownership rate of 82.9%, with median monthly homeownership costs of $1,596.
NerdWallet aims to help consumers make better financial decisions by providing information on products such as CD rates, checking accounts, credit cards and more. The website has been featured in The New York Times, Wall Street Journal and Reuters. For more information, visit nerdwallet.com/cities.