Buying a first home can be an exciting milestone in one’s life. It can also be very stressful and scary.
WalletHub analyzed 300 American cities in terms of “real-estate market,” “affordability” and “quality of life” and then broke down those factors further in terms of 27 other “metrics” and used data from the U.S. Census Bureau, before eventually giving each city a “total score” of 100.
And the winner is … Broken Arrow, Okla. came out on top as the best city to purchase your first home in 2018.
Here are the 10 best cities to buy your first house
Here’s the breakdown:
1) Broken Arrow, OK (total score: 67.09)
2) Tampa, FL (total score: 65.79)
3) Centennial, CO (total score: 64.74)
4) Boise, ID (total score: 64.69)
5) Grand Rapids, MI (total score: 64.65)
6) Thornton, CO (total score: 64.49)
7) Frisco, TX (total score: 64.26)
8) McKinney, TX (total score: 64. 26)
9) Cary, NC (total score: 64.03)
10) Gilbert, AZ (total score: 63.98)
The city of Berkeley, CA (#300) rounded out the bottom of the total list with a total score of 35.96.
The research also ranked each city in terms of size — “large,” “midsize” and “small”: Tampa, FL was the #1 large city (65.79), Boise, ID was the #1 “midsize” (64.69) and Broken Arrow, OK was the #1 small city (67.09).
How the cities compare to each other
You’ll notice that all of the least affordable housing options on the list are located in California.
When buying your first home, look for an area with these features
“Liquidity. First-time home buyers tend to be young and are eventually going to upgrade to a larger home. Therefore they should be able to sell their home with ease in the near or distant future. Neighborhoods with a well-rated school district would be a good place to start,” he told WalletHub.
Whatever you do, choose your first home wisely.