2019’s Best & Worst Cities for First-Time Home Buyers
From Wallet Hub, July 9, 2019
Buying a home for the first time is an exciting and important milestone for many Americans. Their purchases make up a sizable chunk of the market, too. In 2018, 39% of all U.S. single-family home purchases were made by first-time buyers.
The search for a first home requires careful consideration of a number of factors. Buyers must balance what they want and need with what they can afford. Often, people begin searching for their dream homes without a realistic idea of market prices, interest rates or even their eligibility to get a mortgage.
Where a home is located is just as important as what features it has. If the neighborhood is unpleasant, it can sour the experience of a great home. Potential buyers may want to narrow their search down to an area with a good reputation before getting into housing details.
To simplify the process, WalletHub compared 300 cities of varying sizes across 27 key indicators of market attractiveness, affordability and quality of life. Their data set ranges from cost of living to real-estate taxes to property-crime rate….
read … Full Report
- 270 -- Overall Rank (1 = Best)
- 43.65 -- Total Score
- 270 -- 'Affordability' Rank
- 250 -- 'Real-Estate Market' Rank
- 216 -- 'Quality of Life' Rank
- 276 (tie) – Cost of Living (tied for highest)
- 1 – Real Estate Tax Rate (lowest)
- 245 – Home Energy Costs (highest in USA)