Major motion pictures have come into a new day and age when not everything has to be filmed in Hollywood. As movie studios move to more cost-effective filming locations, they can affect several different aspects of a city. We pulled mortgage data from four popular filming cities to compare what getting a home in one of these Hollywood hotspots is like.
For the data, we examined four different popular filming cities using Marksman data: Albuquerque, Atlanta, Boston, and New Orleans. As far as FICOs go, Boston has the highest average credit score at 740, with Atlanta and Albuquerque nearly identical at 728 and 726, respectively, and New Orleans bringing up the rear at 713. However, Boston also has the highest average purchase price, and New Orleans is the second lowest, behind Albuquerque. The average LTVs are the most identical across all four states, with less than a 5% difference between the lowest average LTV, New Orleans, and the highest, Albuquerque.
This more granular data falls in line with the more broad scope that we’ve examined it through before, which is to say that average FICO scores increase as you move from the south and southwest up to the east coast, and average purchases prices also increase moving in that same direction. So while Hollywood filming could be having an impact on these cities in particular, it isn’t so much so that any of these cities sit outside of their regional averages.
Looking to advertise your rates online in one of the Hollywood hotspots talked about above? Find out today how you can begin auto-quoting rates online with Marksman and expanding your businesses reach.