The financial magazine looked at cost of living (where Nashville ranked 3rd among cities with at least 100,000 residents), unemployment (Nashville ranked 23rd) and housing costs as a percentage of household income (Nashville ranked 11th).
The Forbes study surveyed all cities with MSA populations greater than 100,000. I usually hate polls like this because they seem to lack more than one aggregate fact, but when I Wikied the number of cities with a metropolitan statistical area greater than one hundred thousand, I found 342 and became a slight bit more optimistic for the future of Nashville.
Top Ten Most Affordable Cities in the United States
1) Oklahoma City: Cost of Living #12, Unemployment #4, Housing cost #2
2) Pittsburgh, PA: Cost of Living #6, Unemployment #15, Housing cost #1
3) Buffalo, NY: Cost of Living #16, Unemployment #9, Housing cost #3
4) Rochester, NY: Cost of Living #25, Unemployment #1, Housing cost #8
5) Nashville, TN: Cost of Living #3, Unemployment #23, Housing cost #11
6) San Antonio, TX: Cost of Living #19, Unemployment #9, Housing cost #10
7) Houston, TX: Cost of Living #7, Unemployment #22, Housing cost #13
8 ) Louisville, KY: Cost of Living #2, Unemployment #37, Housing cost #4
9) Birmingham, AL: Cost of Living #4, Unemployment #26, Housing cost #14
10) Austin, TX: Cost of Living #15, Unemployment #6, Housing cost #25
Does this Affect Nashville Real Estate Values?
I have long debated both myself and others on whether or not these overnight polls and studies truly possess any predictive value and I have come to one singular conclusion. By themselves, no. No matter the source. In aggregate, yes, especially when a mass public media collectively grabs hold of the headline and incessantly beat it in our subconscious. In the case of this Forbes study, that was not its fate, but I post here on my blog as a curiosity, and perhaps, a beginning of a trend.