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Oak Ridge Named by CNNMoney.com as a Top-25 Place to Buy an Affordable Home

Wednesday July 15, 2009

Oak Ridge has been named in the list of "Where homes are affordable" by CNNMoney.com. The editors of Money Magazine ranked Oak Ridge third in its list of 25 cities. According to the website, "Residents who live in these 25 growing towns see their incomes go the furthest."

The website places the median home price in Oak Ridge at $102,950 with a median family income per year at $72,770.

The website says, in part, "The town has weathered the economic storm thanks to a strong base of professional jobs in health care at local hospitals, and technical and research jobs at a range of plants. Furthermore, Oak Ridge is a short drive from Knoxville, making it a nice spot for commuters who work in the city but want to live in a quieter community."

Mike Belbeck, President and CAO of Methodist Medical Center of Oak Ridge and the chair of the Chamber's Housing and Population Growth area commented, "Being recognized by well-respected and nationally-known entities like CNN and Money Magazine is exciting. It's rewarding to know that our community, which we know to have an extraordinary quality of life, has now been singled out as one of the top 25 places to get the most for your housing dollar."

Kenneth Herring, Relocation Specialist for the Chamber said, "Having Oak Ridge listed as a great place to buy a home is great exposure for this community. The Chamber works very hard to encourage residency in Oak Ridge. This kind of ranking allows people who are considering moving to the area an extra reason to look closely at Oak Ridge. It's definitely something I'll bring up as I meet with individuals and families I'm meeting with."

The website includes statistics from each of the communities named to the list. Statistics include income, purchasing power and taxes. The complete listing can be found at www.cnn.com.

"Some of the statistics position Oak Ridge as higher than the ‘best places average' used by the writers, while some place Oak Ridge as lower. We all know that data can be mixed and matched in a variety of ways.  Regardless of the details, the end result is that the city did well enough on this scale to achieve a top-of-mind ranking by a publication of this caliber.  This is good news.  It is something we should all be proud of and it is something that we will be using in marketing materials as early as next week" said Parker Hardy, President and CEO of the Chamber.

Click here to read the article at Cnn.com.

The Oak Ridge Chamber of Commerce is Four-Star Accredited Chamber of Commerce and a 2008 ACCE Chamber of the Year finalist.

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