Cost of Living vs Median Income
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7/11/2008
The Cost of Living in Cambridge is far out of balance with the median Income. This explains why only about 31% of the homes occupied are owned by the occupant. You can compare Cabridge to most other college towns, and I've gone through 4 others so far. Manhattan, Ks, Lawrence, Ks, Norman, Ok, and Boulder, CO. They all 4 have a higher high school graduation rate than Cambridge has and spend less than half per student than Cambridge does. That shows that spending more money isn't affective. The only reason why Cambridge pays $13000 and the rest are $6000 or below of those 4 other towns is because of the cost of living in Cambridge is out of balance with the rest of the country. The Median Income in Cambridge compared to the Median Home Cost: 116% of the Median Income to buy a Median Price Home and pay the property taxes each year. If you are planning to retire, Do not choose Cambridge!
Micky | Weatherford, TX