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Saturday, Oct. 25, 2014

The 20 best cities to live in for first-time homeowners (20 items)

Bethan Owen

Aug. 20, 2014

WalletHub compared the 300 largest U.S. cities and ranked them by how friendly they are to first-time homeowners. Some of the requirements of being a homeowner-friendly town include having a high median annual income (Texas towns Frisco, Allen, and McKinney, which all feature on this list, are in the top 5 for this category), housing affordability, low real estate tax, and a low property crime rate, among other factors. Listed here are the top 20 towns with the best average scores in affordability, real estate market, and "community environment."

1 of 20. Arlington, Texas

Affordability: 46

Real Estate Market: 33

Community Environment: 97

2 of 20. Arvada, Colorado

Affordability: 35

Real Estate Market: 81

Community Environment: 26

3 of 20. Fort Collins, Colorado

Affordability: 95

Real Estate Market: 67

Community Environment: 2

4 of 20. Gilbert, Arizona

Affordability: 2

Real Estate Market: 141

Community Environment: 21

5 of 20. Garland, Texas

Affordability: 34

Real Estate Market: 47

Community Environment: 79
1. rondonaghe
Mesilla/USA, NM,
Aug. 21, 2014

The 300 largest cities? The twenty best cities for first-time home ownership in the US? Really. I thought I was reading a different list than the one described in the introduction. That is not to say that these aren't great places, but none of them are among the largest cities, and only towns in four states made the cut? Texas, Colorado, Oklahoma, and Arizona? And when you get right down to it, only three towns were outside of Colorado or Texas. This is really hard to believe.

2. Mona
Beaverton, OR,
Aug. 21, 2014

If you're a first-time home buyer and looking for affordability, forget about the Pacific Northwest or the big cities of the Northeast. And if livability is important, most big cities won't qualify (think Phoenix or LA). And to find low real estate tax you're going to be living in some out of the way places, like smaller cities in Texas and Oklahoma . . .

3. raybies
Layton, UT,
Aug. 21, 2014

Utah isn't on the list... which makes sense. Real Estate in utah remains overinflated, and not friendly to first timers. The cost of living in utah is totes cray-cray!

4. l.cee
Ridgefield, WA,
Aug. 21, 2014

Right from the start of this list, I questioned one aspect of their criteria: that it have high median income. First time buyers do not often have a high median income.

Can a first time buyer afford a home in Fort Collins, Colorado, which is ranked as 95th in affordability? And I agree with rondonaghe about having the list include only 4 states. Are affordable homes hard to find in all the other states?

5. mufasta
American Fork, UT,
Aug. 21, 2014

This list is ridiculous for so many reasons. uuuugggghhh!