BRENTWOOD -- Brentwood was recently deemed the top city for homeownership in California by a financial adviser website called Nerd Wallet, but its lure for prospective homebuyers is no surprise to many current residents.
Nerd Wallet used three main criteria to rank the top 20 cities statewide in this real estate category. They were affordability, available housing stock and population growth.
"These are very good indicators of a healthy town. We try to provide an objective analysis to homeownership," said Nerd Wallet content analyst Kamran Rosen.
Last week, Nerd Wallet announced the top cities and Brentwood was named No. 1. It was followed by cities like Elk Grove, Victorville, San Ramon and Temecula in the top 10.
"It is great to have this independent confirmation that Brentwood is the number one, best place to own a home in California," Brentwood's Economic Development Manager Alex Greenwood said.
The website's description of Brentwood explained that the once farming community has been one of the fastest-growing cities in the state with the highest population growth on the list, which is more than 9 percent from 2010 to 2012. Brentwood also has a homeownership rate of 75.7 percent, according to Nerd Wallet.
Some of Brentwood's most well-known amenities such as its proximity to natural resources like Mount Diablo State Park and Sherman Island, its U-pick produce stands, its free summer concerts and its bicycle-friendly environment were considered in the scoring.
Rosen said that this is the first time that Nerd Wallet has released this homeownership ranking list. In the past, they have published the best cities for job seekers and best cities for young families, but Brentwood did not make the top 20 on those lists.
"We try to provide a qualitative picture of the city. We try to aid the consumer in the most important financial decision of their life," Rosen said.
Nerd Wallet uses the Internet to inform consumers about important financial decisions like colleges, credit cards and home buying, Rosen noted.
Brentwood Mayor Bob Taylor announced the distinction at last week's summer concert at City Park and he said that the crowd went wild. He said that Brentwood has proximity to major cities and destinations and is known for its quality schools and unique agriculture.
"It is exceptional for Brentwood. It is an honor," Taylor said. "Brentwood has a great reputation."
Reach Paula King at 925-779-7174 or email@example.com.
To view the Top 10 Cities for Homeownership in California list, check out www.nerdwallet.com/blog/.../best-cities-homeownership-california/.