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Old 02-18-2017, 10:05 PM
 
Location: South Beach and DT Raleigh
11,810 posts, read 18,796,055 times
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Quote:
Originally Posted by projectmaximus View Post
Miami/FLL/WPB for sure. Smaller places like Naples, Charleston, Savannah/Hilton Head are also quite expensive. I'd imagine Key West and Myrtle Beach might be also but I don't really know.
Outside of the major metros in the Southeast, it's easily understandable that the coastal and/or resort cities would also be expensive. This is even the case within the Miami metro itself. Coastal/waterfront properties are among the most expensive sub-markets in the 3 county area.
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Old 02-18-2017, 10:16 PM
 
Location: South Beach and DT Raleigh
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Quote:
Originally Posted by TarHeelNick View Post
The Triangle metro area of NC (Raleigh-Durham-Chapel Hill) is probably now the most expensive metro area in the south besides S. Fla.
Given the household incomes in, especially, Wake County (Raleigh), the Triangle is pretty affordable.
I think that it's important to put "expensive" into context. Wake County median household incomes are 56% higher than they are in Miami-Dade County while the median home value is only 15% higher in Wake. I'd also feel pretty confident in saying that the median home in Wake is also a whole lot nicer than the median home in MiamiDade. Another way to say this is that, price for price, you are going to get a better home in better locations in Wake than you will in Miami-Dade.
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Old 02-19-2017, 05:53 AM
 
21,187 posts, read 30,351,954 times
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Quote:
Originally Posted by Mutiny77 View Post
He said least affordable but if we were talking about best bang for your buck, I'd agree.

Miami definitely tops the list here. I'd also throw in Charleston, Hilton Head, and Alexandria, VA.
LOL...I so missed that. Miami tops the list for sure but Orlando however is right behind if factoring average salary versus average housing cost especially.
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Old 02-19-2017, 06:01 AM
 
21,187 posts, read 30,351,954 times
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Quote:
Originally Posted by rnc2mbfl View Post
Given the household incomes in, especially, Wake County (Raleigh), the Triangle is pretty affordable.
Actually household incomes are a good bit higher in the Durham-Chapel Hill MSA. The Durham-Chapel Hill MSA is at 74K and the Raleigh-Cary MSA is at 66K.
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Old 02-19-2017, 08:59 AM
 
Location: South Beach and DT Raleigh
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Quote:
Originally Posted by kyle19125 View Post
Actually household incomes are a good bit higher in the Durham-Chapel Hill MSA. The Durham-Chapel Hill MSA is at 74K and the Raleigh-Cary MSA is at 66K.
Median household incomes per the Census website for 2015:
Wake(Raleigh): $67,309 - 1,024,198 people
Durham(Durham): $52,503 - 300,952 people
Orange(Chapel Hill): $57,290 - 141,354 people

By jobs, Durham County may higher median pay because it houses the majority of jobs in RTP on a much smaller base number of total jobs in Durham County (171,271 total jobs) compared to Wake (425,283 total jobs). A contributing factor to Wake having higher household incomes is the many people who live in Wake's western suburbs who work in the Durham County side of RTP. Another factor is Wake's lower poverty rate, which is 6 percentage points less than Durham's.

I selected Wake to compare to Miami-Dade because Wake is by far the largest, the most complex county in the Triangle. It also has the lion's share of the metro's population, the largest city, the most suburbs and even some "rural" areas on its NE corner (but not for long).

Last edited by rnc2mbfl; 02-19-2017 at 10:08 AM..
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Old 02-19-2017, 11:05 AM
 
21,187 posts, read 30,351,954 times
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Quote:
Originally Posted by rnc2mbfl View Post
Median household incomes per the Census website for 2015:
Wake(Raleigh): $67,309 - 1,024,198 people
Durham(Durham): $52,503 - 300,952 people
Orange(Chapel Hill): $57,290 - 141,354 people

By jobs, Durham County may higher median pay because it houses the majority of jobs in RTP on a much smaller base number of total jobs in Durham County (171,271 total jobs) compared to Wake (425,283 total jobs). A contributing factor to Wake having higher household incomes is the many people who live in Wake's western suburbs who work in the Durham County side of RTP. Another factor is Wake's lower poverty rate, which is 6 percentage points less than Durham's.

I selected Wake to compare to Miami-Dade because Wake is by far the largest, the most complex county in the Triangle. It also has the lion's share of the metro's population, the largest city, the most suburbs and even some "rural" areas on its NE corner (but not for long).
I was utilizing MSA data which is typically how comparables are made. The Raleigh metropolitan area comprises Wake, Nash, Franklin, and Johnston Counties; the Durham-Chapel Hill metropolitan area comprises Durham, Orange, Chatham, and Person Counties. Actually the Durham-Chapel Hill metro is far more complex and despite it's 6% poverty rate holds the higher household income. Durham-Chapel Hill's demographics are as follows: 42.45% White, 40.96% Black or African American, 5.07% Asian American, 0.51% Native American, 0.07% Native Hawaiian or Other Pacific Islander, 8.28% some other race, and 2.66% two or more races; 14.22% were Hispanic or Latino of any race. Non-Hispanic White comprised 37.9% of the population. Raleigh's is 72.40% White, 19.72% Black or African American, 0.34% Native American, 3.38% Asian, 0.03% Pacific Islander, 2.48% from other races, and 1.64% from two or more races. 5.41% of the population were Hispanic or Latino of any race. There's also a very significant rural and agricultural component in Durham-Chapel Hill with close-in northern and western Durham County and 3/4 of Orange County fitting that descriptive.
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Old 02-19-2017, 03:36 PM
 
Location: South Beach and DT Raleigh
11,810 posts, read 18,796,055 times
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Quote:
Originally Posted by kyle19125 View Post
I was utilizing MSA data which is typically how comparables are made. The Raleigh metropolitan area comprises Wake, Nash, Franklin, and Johnston Counties; the Durham-Chapel Hill metropolitan area comprises Durham, Orange, Chatham, and Person Counties. Actually the Durham-Chapel Hill metro is far more complex and despite it's 6% poverty rate holds the higher household income. Durham-Chapel Hill's demographics are as follows: 42.45% White, 40.96% Black or African American, 5.07% Asian American, 0.51% Native American, 0.07% Native Hawaiian or Other Pacific Islander, 8.28% some other race, and 2.66% two or more races; 14.22% were Hispanic or Latino of any race. Non-Hispanic White comprised 37.9% of the population. Raleigh's is 72.40% White, 19.72% Black or African American, 0.34% Native American, 3.38% Asian, 0.03% Pacific Islander, 2.48% from other races, and 1.64% from two or more races. 5.41% of the population were Hispanic or Latino of any race. There's also a very significant rural and agricultural component in Durham-Chapel Hill with close-in northern and western Durham County and 3/4 of Orange County fitting that descriptive.
Raleigh's MSA does not include Nash County. Show me where your data comes from.
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Old 02-19-2017, 03:37 PM
 
Location: Research Triangle Area, NC
3,745 posts, read 2,558,854 times
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Quote:
Originally Posted by kyle19125 View Post
I was utilizing MSA data which is typically how comparables are made. The Raleigh metropolitan area comprises Wake, Nash, Franklin, and Johnston Counties; the Durham-Chapel Hill metropolitan area comprises Durham, Orange, Chatham, and Person Counties. Actually the Durham-Chapel Hill metro is far more complex and despite it's 6% poverty rate holds the higher household income. Durham-Chapel Hill's demographics are as follows: 42.45% White, 40.96% Black or African American, 5.07% Asian American, 0.51% Native American, 0.07% Native Hawaiian or Other Pacific Islander, 8.28% some other race, and 2.66% two or more races; 14.22% were Hispanic or Latino of any race. Non-Hispanic White comprised 37.9% of the population. Raleigh's is 72.40% White, 19.72% Black or African American, 0.34% Native American, 3.38% Asian, 0.03% Pacific Islander, 2.48% from other races, and 1.64% from two or more races. 5.41% of the population were Hispanic or Latino of any race. There's also a very significant rural and agricultural component in Durham-Chapel Hill with close-in northern and western Durham County and 3/4 of Orange County fitting that descriptive.
Those are the demographics for the city of Durham....that doesn't include the whole Durham-Chapel Hill MSA
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Old 02-19-2017, 04:35 PM
 
Location: South Beach and DT Raleigh
11,810 posts, read 18,796,055 times
Reputation: 11136
Okay. Since Kyle19125 wants to see the data by entire MSA, here is each MSA's counties' Median household income and the per capita income normalized for each MSA per the data from the US Census website.

Raleigh MSA:
Wake County: 364,669 households - Median HH income of $67,309 - HH size 2.61 ppl
Johnston County: 61,950 households - Median HH income of $50,512 - HH size 2.85 ppl
Franklin County: 23,506 households - Median HH income of $42,685 - HH size 2.58 ppl

Durham MSA:
Durham County: 115,595 households - Median HH income of $52,503 - HH size 2.37
Orange County: 51,880 households - Median HH income of $59,290 - HH size 2.47
Chatham County:, 26,923 households - Median HH income of $56,642 - HH size 2.52
Person County: 15,383 households - Median HH income of $42,105 - HH size 2.47

***How does the Durham-Chapel Hill MSA have average household incomes of $74K when none of the 4 counties have HH data that even comes close to that number?***

FWIW, Wake County has more households than all of the other counties in both MSA's combined, plus it has the highest median HH incomes.

I don't know how to calculate the median HH income across all counties for each MSA. If I used the median as the average (which I know it isn't), the Raleigh MSA would come out way higher. Alas, I am not reporting that number because I know that it's not a real piece of data.

Now, let's look at this by per capita income.
In Raleigh's MSA, across all three counties of 1,273,568, the per capita income is $31,914.
In Durham's MSA, across all four counties of 552,689, the per capita income is $31,511.
Those are very close numbers until you put it into more context. The average household size in all three of the Raleigh MSA counties is higher than it is in all four counties in the Durham-Chapel Hill MSA. One would presume more kids as a general rule in households in the Raleigh MSA. Last I checked, most children aren't making reported income to contribute to the per capita numbers.

In the end, I still haven't seen any data that supports the assertion that median household incomes in the Durham-Chapel Hill MSA are higher than they are in the Raleigh MSA.

All of this data is calculated from the latest information published on the Census website.

Last edited by rnc2mbfl; 02-19-2017 at 04:50 PM..
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