Can You Guess the Best U.S. Cities for First-Time Homebuyers?
Less than 35 percent of adults under the age of 35 actually own their homes, according to SmartAsset. Why? The reasons are as diverse and complex as you can imagine but one of the main deterrents is, of course, cash! Do you fall under this category? Well, do not dispair! Your dream of owning a home might come true just yet. The website has ranked the best cities in the country with the most favorable real estate markets for first-time homeowners.
It will probably surprise exactly no one that New York City and San Francisco are not among those places. In fact, the latter has now the nation's most expensive market with price per square foot of $855.75. Actually, there were no West Coast cities in the top 25.
SmartAsset evaluated every U.S. city with a population of over 300,000 based on seven metrics: number of mortgage lenders, loan funding rate, value per square foot, affordability, homeowner stability, market volatility, and number of consecutive quarters since 2010 in which home prices declined.
According to their findings, half of the top 10 cities are in Oklahoma and Texas -- with the first two spots occupied by Oklahoma's largest cities!
And without further ado, here are the rest of the winners.
1. Oklahoma City, OK
2. Tulsa, OK
3. Indianapolis, IN
4. Pittsburgh, PA
5. Houston, TX
6. Omaha, NE
7. Wichita, KS
8. San Antonio, TX
9. Louisville, KY
10. Dallas, TX, and Fort Worth, TX
Would you ever consider moving to those cities? Do you live in those cities now!? Share your recommendations below!