{"id":130809,"date":"2023-12-22T00:09:23","date_gmt":"2023-12-22T08:09:23","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=130809"},"modified":"2024-09-03T03:31:45","modified_gmt":"2024-09-03T10:31:45","slug":"where-and-how-newlyweds-can-thrive-financially","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/self-storage\/where-and-how-newlyweds-can-thrive-financially\/","title":{"rendered":"Here\u2019s Where, and How, Newlyweds Can Thrive Financially"},"content":{"rendered":"

Couples have a financial advantage over their single counterparts. Dual incomes and shared expenses are, indeed, great extra perks of getting married. Where the couples live, or where they decide to move, is another important factor in achieving their financial goals as a family. Some cities are better equipped than others to provide an environment where new couples can succeed in things like buying their dream home, saving money for travel \u2014 perhaps for an amazing Reykjavik Northern Lights tour<\/a> \u2014 college funds, or, why not, early retirement.<\/p>\n

A StorageCafe research looked into the best cities nationwide for newlyweds<\/a>, analyzing a number of indicators, including the share of married population, household income for 25- to 44-year-olds, the availability and affordability of housing options, and the job market, as well as access to leisure and entertainment. As it turns out, Arlington, VA<\/strong><\/a>, is the country\u2019s best city overall for those who recently tied the knot.<\/strong><\/p>\n

However, newlyweds who want to start their marriage on the right foot financially have some other excellent options when it comes to choosing the right city to move to.<\/p>\n

Fremont, CA, hits the right spot for financially conscious newlyweds<\/h2>\n

Newlyweds interested in living in a family-oriented place where they can also enjoy a more-than-comfortable income should check out Fremont, CA<\/strong>. Almost 62% of the population here is married. This creates the right kind of environment for newlyweds, who will have a better chance of making friends with like-minded people here. And when it comes to reaching their financial goals, this California city boasts the highest median earnings for millennial couples among the country\u2019s large cities: $186K. Homes might be a bit pricy in the area, at around $730K, but new couples have the opportunity to save up for a down payment since only 20% of their income goes to rent. Renting a small apartment in Fremont<\/a> might reduce even more the share of income that goes toward rent. And if storage space at home is not enough, a self storage unit in Fremont<\/a>, at around $174 per month, is an affordable and easily accessible way to help newlyweds enjoy a neat and tidy love nest.<\/p>\n

Another great option for new couples interested in climbing the property ladder is Chesapeake, VA<\/a><\/strong>. The unemployment rate is under 3%, while earnings for millennial households<\/a> are at almost $95K. The affordable housing market, where rents take up only about 20% of income, and home prices hovering around $228K, under the national threshold, help newlyweds prosper and build wealth.<\/p>\n

Two other cities where newlyweds will find the right environment, financially and socially, are Gilbert, AZ<\/a><\/strong>, and Lincoln, NE<\/a><\/strong>. Both cities provide great employment opportunities, nice incomes for millennials, and good access to housing, whether we\u2019re talking about renting an apartment or buying a home.<\/p>\n

\"Young<\/p>\n

How newlyweds can make the most of these financial advantages<\/h2>\n

The financial advantages associated with getting married and living in a place that allows couples to save up materialize only if both partners are on the same page about money. Talking about finances might not sound like the most romantic way of spending your first months as newlyweds. However, it is one of the best things you can do for the long-term success of your marriage and will help you achieve your long-term goals as a family.<\/p>\n

Here\u2019s how to approach the hot topic of finances as a couple so that there are fewer money-related conflicts and misunderstandings in your marriage:<\/p>\n