In a nationwide list of the 20 most affordable U.S. cities and towns located on or near lakes, Morgan City, which sits on the southwest shore of the 11,520 acre Lake Palourde, has been ranked the #4 most affordable lake town in the United States. The list was compiled by GOBankingRates which was reported by AOL
The report said that Americans dream of easy access to water sports, soothing sounds of gentle waves lapping against the shoreline, lake views out of front windows. However, tight budgets are often the blocker, but they don’t necessarily have to make these dreams go poof.
The list draws from a blend of sources including Travel + Leisure, Thrillist, MSN, the U.S. Census Bureau, Sperling’s BestPlaces, the Bureau of Labor Statistics, Zillow, the Federal Reserve and AreaVibes.
Median household incomes in these locales aren’t high compared to many other U.S. cities. The report said the monthly cost of living in Morgan City is $2,660, with an average single-family home value of $133,647 and median household income of $56, 729.
Morgan City’s average monthly mortgage cost of $765 is the second lowest among the cities in this list.