September 21, 2019

WalletHub Press Release

2019's Best & Worst Cities for First-Time Home Buyers

| 7/9/2019

With July being one of the top months for home sales and nearly 40% of 2018’s single-family home purchases made by first-time 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 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 Tampa, FL   291 Elizabeth, NJ
2 Overland Park, KS   292 Daly City, CA
3 Thornton, CO   293 El Monte, CA
4 Grand Rapids, MI   294 Newark, NJ
5 Boise, ID   295 Westminster, CA
6 Greeley, CO   296 San Mateo, CA
7 Peoria, AZ   297 Oakland, CA
8 Arvada, CO   298 Santa Barbara, CA
9 McKinney, TX   299 Detroit, MI
10 Centennial, CO   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 1.83, which is 8.2 times cheaper than in Berkeley, 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 times lower than in Honolulu, the city with the highest at $388.65.

View the full report and your city’s rank.

Tags: Press Release

Digital Access

Add digital to your current subscription, purchase a single digital issue, or start a new subscription to Florida Trend.

An overview of the features and articles in this month's issue of Florida Trend.


Florida Business News

Florida Trend Video Pick

What are microplastics? An expert breaks it down.
What are microplastics? An expert breaks it down.

In the early 2000s, scientists taking samples in open water looking for tiny organisms instead stumbled on something man-made – microplastics. What are microplastics? Lara Milligan, UF/IFAS Extension Pinellas County natural resources agent, breaks it down.

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

What are your thoughts on the dockless electric scooter boom cropping up across Florida cities?

  • Good alternative for people without a car
  • Cheaper than public transportation
  • Requires more city regulations
  • Eco-friendly alternative
  • They litter city sidewalks and landscapes
  • Battery life questionable
  • Other (Please comment in comment section below)

See Results

Florida Trend Magazine
490 1st Ave S
St Petersburg, FL 33701

© Copyright 2019 Trend Magazines Inc. All rights reserved.