WALLETHUB: 2019’s Best & Worst Cities for First-Home Buyers

With July being one of the top months for home sales and nearly 40% of 2018’s single-family home purchases made by first-home buyers, the personal finance website WalletHub today released its report on 2019’s Best & Worst Cities for First-Time Home Buyers as well as accompanying videos.

To determine the more favorable housing markets for first-time buyers, WalletHub took the pulse of real estate in 300 cities of varying sizes using 27 key metrics. The data set ranges from housing affordability to real-estate tax rate to property-crime rate.

Best Cities for First-Time Home Buyers

  1. Tampa, FL

2. Overland Park, KS

3. Thornton, CO

4. Grand Rapids, MI

5. Boise, ID

6. Greeley, CO

7. Peoria, AZ

8. Arvada, CO

9. McKinney, TX

10. Centennial, CO

Worst Cities for First-Time Home Buyers

291. Elizabeth, NJ

292. Daly City, CA

293. El Monte, CA

294. Newark, NJ

295. Westminster, CA

296. San Mateo, CA

297. Oakland, CA

298. Santa Barbara, CA

299. Detroit, MI

300. Berkley, CA

Best vs. Worst

  • Akron, Ohio, has the most affordable housing (median house price divided by media annual household income), with a ratio of 1.83, which is 8.2 times cheaper than in Berkley, California, the city with the least affordable housing, with a ratio of 15.04.
  • Honolulu has the lowest real-estate tax rate, 0.29 percent, which is 12.9 times lower than in Waterbury, Connecticut, the city with the highest at 3.74 percent.
  • Cleveland has the highest rent-to-price ratio, 16.00 percent, which is 6.1 times higher than in Sunnyvale, California, the city with the lowest at 2.61 percent.
  • Shreveport, Louisiana, has the lowest average energy cost per household, $93.58, which is 4.2 time lower than in Honolulu, the city with the highest at $388.65.

To view the full report and your city’s rank, please visit: https://wallethub.com/edu/best-and-worst-cities-for-first-time-home-buyers/5564/

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Julia LeFort

Julia LeFort joined RSHV News 1 in May 2019 following her graduation from Florida College with a Bachelor's Degree in May 2019. She has been working as an editor in Florida for the past two years and previously graduated from Benton High School. Currently she is working as the content manager and a contributing reporter to RSHV News 1, while also attending graduate school online through LSU's School of Library and Information Science. Julia is excited to be back in Northwest Louisiana, which she considers home. You can contact Julia at jlefort@rshv.news.

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