Where there are good options, there are options that are not so ideal. So while there are high-ranking cities in the United States for home buyers for the first time, there are some at the bottom of the list.
This list is Bankrate’s best metro stations for the first-time home buyers’ survey, looking at 50 metro areas, each assessing accessibility, wellness, labor market, market density and safety. The results were then combined to create a final ranking, with accessibility at 30%, wellness and culture at 10%, and housing tightness, safety and employment factors, each at 20%. .
Not surprisingly, Los Angeles ranks 50th overall for home buyers for the first time, largely due to its expensive real estate and low average income. The average income in Los Angeles is similar to that of Pittsburgh – the number one city on the list – but there is a much narrower housing market.
Here are the 10 worst metro areas for first-time buyers, according to Bankrate:
- Los Angeles – Long Beach – Anaheim
- Las Vegas – Henderson – Paradise
- Seattle – Tacoma – Bellevue
- Riverside – San Bernardino – Ontario, California
- San Jose – Sunnyvale – Santa Clara, California
- Denver – Aurora – Lakewood
- Houston- The Woodlands- Sugarland
- San Francisco – Oakland – Hayward
- Orlando, Florida
- San Diego-Carlsbad
One thing that stands out: About half of the lowest-ranked cities are in California. And these areas almost entirely make up the last five accessibility rankings. In terms of accessibility, Riverside ranks 42nd, San Diego 47th, San Francisco 48th, Los Angeles 49th and San Jose 50th.
Los Angeles may have ranked low for accessibility and the job market, but the area holds No. 3 for wellness and culture. Although this category accounts for only 10% of Bankrate’s final ranking, it may exceed other factors for certain individual buyers.
Similarly, while these 10 areas may not be the most affordable for new homeowners, that doesn’t mean they don’t have other highlights. For example, San Jose has an excellent labor market and residents earn an average salary of $ 150,000 a year. San Francisco boasts the No. 1 wellness and culture ranking of all 50 subway areas.
While these areas may not be the best choice for a first time buyer looking for affordable housing, they may make sense for some buyers. It all comes down to each person’s priorities.
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