Want the best neighborhood for your money in metro Atlanta? Look no farther than north Fayetteville.
The areas around Highways 85 and 54, encompassed by Corinth, New Hope and Kenwood Roads have been designated as one of The Best Neighborhoods for the Money 2010 by NeighborhoodScout.com, in partnership with AOL’s Walletpop.com.
"Best neighborhoods for the money are neighborhoods that combine many premium qualities, including excellent public schools, low crime rates, many large, owner-occupied single family homes and neighbors with four-year college degrees, master's degrees, MDs or PhDs, but where median home prices are surprisingly low compared to other premium quality neighborhoods in the area." said Andrew Schiller, creator of NeighborhoodScout.com.
Another factor: the neighborhoods must be within 20 miles of a major city center. Fayetteville was the only city chosen in the metro Atlanta area.
The neighborhoods designated in the study are not the least expensive subdivisions, but are premium neighborhoods with home prices much less than comparable neighborhoods.
For example, the average price for a home in the area designated as the "best neighborhood" in Fayetteville is $235,695, while the cost of comparable neighborhoods in other parts of metro Atlanta average $420,399, according to NeighborhoodScout. This means north Fayetteville homes cost 44 percent less.
Other neighborhoods singled out as good values include Silver Spring, Md., in the Washington, D.C., area; Livingston, N.J., in the New York City area and Cooper City, Fla., in the Miami metropolitan area.