SmartAsset is a financial technology company that publishes a wide range of articles, guides, reviews, and calculators on various personal finance topics. Earlier this month, they released a list of “Best Places For New Families” and Montgomery County, MD was ranked 6th overall.
Counties are ranked based on five factors including childcare and housing affordability, the relative population of children under 10, and access to parks and doctors. The following statistics were shared for Montgomery County:
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Childcare costs as a percent of median household income: 30.61%
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Median monthly housing costs: $2,132
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Percentage of population under age 10: 11.81%
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Number of children under age 10: 124,993
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Ratio of total population to primary care physicians: 742
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Population living within a half mile of a park: 94.26%
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Housing costs as a percentage of median household income: 20.41%
Nearby Fairfax County, VA was ranked the best place for new families. “A short drive west of Washington, D.C., Fairfax County ranks well for childcare affordability, with costs for a family with two children averaging 24.0% of the median income, while housing averages 19.6% of the median income. Additionally, 96.0% of residents live within a half mile of a park, and there is one primary care doctor for every 898 residents, compared to a national median of 1,504.”
The full list can be found here.