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March 26, 2019

WalletHub News Release

2018's Best & Worst Cities for First-Time Home Buyers

Tampa is #2 for "Best City for First-Time Home Buyers," Miami ranks in the bottom, says WalletHub

| 7/16/2018

With July being one of the top months for home sales and nearly 40% of 2017’s single-family home purchases made by first-time buyers, the 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.

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 click here.

Tags: Real Estate

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