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Farragut ranked ‘Best Suburb in the South’


Farragut has been named the Best Affordable Suburb in the South by BusinessWeek magazine in a recent series of articles concerning best suburbs of various regions of the country.

“I think this is a tremendous honor for the town of Farragut,” Mayor W. Edward “Eddy” Ford III said. “Farragut is a great place with great people. If you look at all the data they used, people were the main factor. People is what it’s all about.”

“I’m very proud of the fact Farragut was listed as one of the top cities,” Farragut Vice Mayor Mike Haynes said. “We’re in a pretty elite group. We’re fortunate enough to have our town in a great location. Farragut has worked hard since nineteen-eighty to have a very liveable community.”

Although the article on the topic doesn’t mention Farragut specifically, Farragut tops a list of 21 on AOL created by BusinessWeek of the top suburbs in the South. Farragut was first, followed by Broken Arrow, Okla., and Cary, N.C.

The study that placed Farragut at the top of 21 southern suburban communities was based on information compiled by the Portland, Ore., research group Sperling’s Best Places.

“We used a lot of criteria out of our book, ‘Best Places to Raise Your Family,’ that identifies more than a hundred best places all over the country,” Bert Sperling, president of the company, said.

He said the book compiles information from more than 400 cities and provides population statistics in addition to ranking each city on various factors.

The 10 different categories include: economy and jobs, cost of living, climate, education, health and health care, crime, transportation, leisure, arts and culture and overall quality of

life.

Criteria weighed most heavily are cost of living, climate and quality of life. Areas that gained more weight for this new edition of the book were affordable housing and reasonable commuting times.

“We started out looking at the major metro areas in Tennessee, then we started looking at the suburbs around the metro areas,” Sperling said. “We looked at the housing because one of the things people need most is affordable housing.”

The figures Sperling and his staff compiled show the median age of homes in Farragut as 18 years compared to 27 years for the rest of the United States.

The average Farragut price for a home is almost $50,000 higher than the rest of the country, with a median cost of $272,700 compared with $217,200 for the rest of the United States.

Almost 32 percent of Farragut homes have a value between $250,000 and $300,000, followed by 17 percent of homes that are valued between $150,000 and $200,000.

Farragut ranked slightly higher than the rest of the United States in terms of cost of living. Farragut’s cost of living was ranked by Sperling as 103.7 compared with a score of 100 for the rest of the country.

Factors that played a role in the ranking included transportation, housing, food and utilities.

In terms of health care costs, Farragut showed an average of $89 compared with $100 for the rest of the United States.

The determination was based on average cost of doctor and dentist visits as well as the cost of an overnight stay in a Farragut hospital.

 

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