Buying Your First Home: We pick the toughest and easiest states for first-time homebuyers
From Bankrate.com, February 28, 2017
For millennials striving to succeed at "adulting," buying a home is a common goal. But millennials now hitting prime years for that first home purchase may have to stick to smaller, interior states to find a hospitable homebuying climate, according to a new Bankrate analysis.
We found California, New York, Texas, Colorado, Oregon and Massachusetts -- states with large metro areas that are attracting young millennials -- are among the 10 worst states for first-time homebuyers.
The best-performing states in our ranking are mostly Western and Midwestern states with varying degrees of urbanization. Iowa, Utah and Minnesota make up the top three….
read … Buying
- Total Score: 20.16
- Housing Affordability: 0.00
- Job Market for Young Adults: 7.33
- Housing Market Tightness: 4.59
- Credit Availability: 8.24
- Homeownership Among Millennials: 0.00
Hawaii is home to one of the most shocking housing statistics: Locals pay a staggering 38.3 percent of their median yearly income for their homes, the highest in the country. Only 20.2 percent of younger households own their homes, the lowest among the states.