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Homeownership affordable dream for Red Willow County residents
Taking factors such as property taxes, homeowners’ insurance fees, mortgage payments and income into account, a financial technology company has rated Red Willow County one of the most affordable places to own a home in Nebraska.
SmartAsset’s study rated McCook No. 4 in the state, behind Alliance, Lexington and Schuyler, and ahead of Chalco, South Sioux City, York, Papillion and Gering.
Despite having the lowest median income in the top 10 towns, $40,264, McCook ranked high on the basis of the lowest annual property taxes for the average home, $1,445, the second lowest annual homeowner’s insurance cost, $848, and the second lowest average annual mortgage payment, $3,890.
That gave McCook an affordability index of 42.44, with others ranging from 48.66 at Alliance to 39.14 at Gering.
One can think of a number of socio-economic issues that affect the numbers used for the study — such as meatpacking plants at Schuler and Lexington, the impact of the merger of Cabela’s with Bass Pro Shops and the resulting downsizing of the former’s headquarters at Sidney, as well as many others.
We’re sure major employers like Parker Hannifin, Valmont, Community Hospital, McCook Community College, the McCook Public Schools, BNSF and others had a major impact on the figures that SmartAsset used to give McCook such a high rating as well.
Considering all of the factors involved, it’s good to know that the traditional American dream of owning one’s own home is a definite possibility in our community.