Here’s why first-time buyers should head to the Lone Star state

The best places for first-time buyers has been revealed and the top 3 are all in Texas

Here’s why first-time buyers should head to the Lone Star state
The best places for first-time buyers has been revealed and the top 3 are all in Texas.

McKinney, Frisco and Allen top the listings compiled by Wallethub.com which considered factors such as market attractiveness, affordability and quality of life including property taxes and property-crime rate.

Cary, NC; Norman, OK; Lincoln, NE; Richardson, TX; Boise, ID; Thornton, CO; and Murfreesboro, TN complete the top 10.

By contrast, California dominates the rankings of the worst markets for first-time buyers with 7 out of the bottom 10. Santa Barbara, Berkeley, Oakland and Santa Monica are the worst followed by Miami Beach.

San Francisco; Newark, NJ; San Mateo, CA; New York; and El Monte, CA complete the top ten.

For affordability, Fayetteville, North Carolina, ranks best with a ratio of 1.24, which is 12.7 times cheaper than in Santa Barbara, California, the least affordable, with a ratio of 15.74.

Honolulu has the lowest real-estate tax rate, 0.29%, which is 12.3 times lower than in Waukegan, Illinois, the city with the highest at 3.56%.

The measure of median house price appreciation sees California take out 4 of the top 5 slots: Richmond, Vallejo, Sunnyvale and Hayward with Pittsburgh, PA in fifth place.

Price appreciation is lowest in Fayetteville, NC; Brockton, MA; Detroit; Waterbury, CT; and Newark, NJ.

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