By Chris Maza
LONGMEADOW – A recent study conducted by LendingTree determined that Longmeadow is one of the top places for families in Massachusetts.
Utilizing a formula combining income, costs, homeowner rates and other factors to arrive at a score between 0 and 100, Longmeadow graded out at 67.8, good for fifth on the list.
The study compared cities and towns with a minimum of 5,000 residents on six variables it considered key indicators for a family-friendly community – median family income, median monthly housing costs, homeownership rates among families with children, unemployment rates for 22- to 44-year-olds, 16- to 19-year-olds enrolled in high school, and average commute time.
“With a final score of 67.8, Longmeadow rounds out the top five in LendingTree’s list of best places for young families in Massachusetts,” the study states. “The median household income of families with children is $142,439 and the median monthly housing cost is $1,803. Thirty-seven percent of households have children, and 90.5 percent of families with children in Longmeadow own a home. Longmeadow enjoys a very low rate of unemployment, 3.8 percent, and percentage of 16- to 19-year-olds who are not enrolled in high school, at 3.2 percent. For Longmeadow residents, the average commute time is 22.9 minutes.”
When asked by the Longmeadow News to define a “young family,” Nadia Gonzalez of LendingTree explained, “In this case, unemployment rate was limited to people between the ages of 25-44, so it would not apply to, say, a family where the parents are 50 and have a 15-year-old child. Incomes are limited to families with minor children in the home.”
Gonzalez further told the Longmeadow News monthly housing costs include mortgage, taxes, and insurance.
When asked how factors such as growth potential for municipalities impacted the rankings, she said, “We were not able to track that detail of information across multiple municipalities from a consistent source, but our study reviewed the current state of families and was not intended to project future opportunities, per se.”
For more information on this study, visit www.lendingtree.com/home/mortgage/the-best-places-for-young-families-in-massachusetts.