These are the best, worst cities for first-time homebuyers: Report
Henderson, Nevada, was the best overall city for first-time homebuyers
Compass Vice President Mike Aubrey argues even before the coronavirus outbreak, many families were moving out of cities and into the suburbs.
If you’re looking to buy a new home for the first time, you might want to consider Henderson, Nevada, according to one report.
Earlier this week, WalletHub published a report that found the best cities for first-time homebuyers. Henderson was at the top of the list.
To calculate the results, the personal finance website analyzed 300 U.S. cities based on 26 measurements within three categories: affordability, real estate market and quality of life.
TINY HOME, BACKYARD COTTAGE DEMAND SURGES AMID CORONAVIRUS PANDEMIC
Aside from its overall ranking, WalletHub found which cities ranked highest and lowest among some of those measurements.
For example, Akron, Ohio, was the city with the most affordable housing while five California cities -- Los Angeles, San Francisco, Glendale, Santa Barbara and Berkeley -- tied for the least affordable housing.
Henderson, Nev., was found the be the best city overall for first-time homebuyers, according to WalletHub. (iStock)
WalletHub also found that Honolulu has the lowest real estate tax rate and Waterbury, Connecticut, has the highest.
Yonkers, New York, was found to have the lowest property crime rate and Miami Beach, Florida, was found to have the highest, according to the report.
HOMEOWNERS SHARPEN THEIR SHORT GAME WITH BACKYARD PUTTING GREENS
In its report, WalletHub also separated the 300 cities by their size and ranked them in those groups. Cities were considered large if they had more than 300,000 people, midsize if they had between 150,000 and 300,000 people and small if they had fewer than 150,000 people in their populations.
The best large city for first-time homebuyers was Tampa, Florida, the best midsize city was Henderson and the best small city was Thornton, Colorado, according to WalletHub.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
To see the overall results, here are the best and worst cities for first-time homebuyers, according to WalletHub.
Worst cities for first-time homebuyers
291. San Mateo, Calif.
292. Miami Beach, Fla.
293. Daly City, Calif.
294. Los Angeles
295. Oakland, Calif.
296. New York
297. Detroit
298. Santa Barbara, Calif.
299. San Francisco
300. Berkeley, Calif.
CLICK HERE TO READ MORE ON FOX BUSINESS
Best cities for first-time homebuyers
10. Lincoln, Neb.
9. Peoria, Ariz.
8. North Las Vegas, Nev.
7. Las Vegas
6. Tampa, Fla.
5. Gilbert, Ariz.
4. Chesapeake, Va.
3. Thornton, Colo.
2. Boise, Idaho
1. Henderson, Nev.