Loading...

These are the 2018 Best and Worst US Cities For Home Buyers

July is one of the top months for buying a home.  In 2017, close to 40%  single-family homes purchased by first-time buyers were made in July. To commemorate the month of home-buying,  personal finance website WalletHub took an in-depth look at 2018’s Best & Worst Cities for First-Time Home Buyers.



To determine the most 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. If you’re in the market for a new home before you start packing your boxes and making the big move, check out these best and worst cities for first-time buyers.

Best Cities for 

First-Time Home Buyers
Worst Cities for 

First-Time Home Buyers
1 Broken Arrow, OK 291 Anchorage, AK
2 Tampa, FL 292 Newark, NJ
3 Centennial, CO 293 Elizabeth, NJ
4 Boise, ID 294 Miami Beach, FL
5 Grand Rapids, MI 295 Oakland, CA
6 Thornton, CO 296 San Mateo, CA
7 Frisco, TX 297 San Francisco, CA
8 McKinney, TX 298 Flint, MI
9 Cary, NC 299 Detroit, MI
10 Gilbert, AZ 300 Berkeley, CA



Best vs. Worst

  • Akron, Ohio, has the most affordable housing (median house price divided by median annual household income), with a ratio of 1.72, which is 8.9 times cheaper than in Berkley, California, the city with the least affordable, with a ratio of 15.25.
  • Honolulu has the lowest real-estate tax rate, 0.28 percent, which is 13 times lower than in Waterbury, Connecticut the city with the highest at 3.65 percent.
  • Cleveland, Ohio has the highest rent-to-price ratio, 17.8 percent, which is 4.7 times higher than in San Mateo, California, the city with the lowest at 3.8 percent.
  • Shreveport, Louisiana, has the lowest average energy cost per household, $109.48, which is four times lower than in Honolulu, the city with the highest at $432.62.



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/





You might also like