Is Terrace a Good Place to Live?
Based on current data, Terrace receives an overall livability score of 3.3 out of 5.0, earning a grade of B. Key strengths include above-average household incomes. Areas to be aware of include high housing costs, above-average unemployment. Terrace offers a solid quality of life with a good balance of affordability, safety, and opportunity.
Economy & Jobs
The median household income in Terrace is $90,000, 20% above the national average of $75,149. Residents generally enjoy above-average earning potential. The unemployment rate of 6.5% is somewhat elevated compared to the national rate of 3.6%. 9.3% of residents live in poverty, near the national average of 12.4%. Workers commute an average of 18 minutes, shorter than most U.S. cities.
Cost of Living & Housing
The median home value in Terrace is $420,000, 49% above the national median. Renters pay a median of $1,000 per month, below the national average — a plus for affordability. A price-to-income ratio of 4.7x indicates a reasonably affordable housing market.
Education
13.7% of residents hold a bachelor's degree, below the national average of 33.7%. 29.8% have completed high school.
Climate & Weather
Terrace experiences four distinct seasons with an average temperature of 47°F. Winters average 34°F in January while summers reach 66°F in July. With 188 sunny days, the area sees less sunshine than many U.S. cities. Annual precipitation totals 63.7 inches, including 132.3 inches of snow.