Thinking of finally making that first-time home purchase? This new report might give you the push you need.
According to personal finance website WalletHub’s 2019 analysis on the best and worst American cities for first-time home buyers, Atlanta’s real estate market is one of the most attractive in the nation.
To best understand the top favorable housing markets for first-timers, WalletHub analysts compared a sample of 300 U.S. cities of different sizes across three key dimensions: affordability, real estate market and quality of life. The dimensions were further evaluated using 27 relevant metrics, from average cost of homeowner’s insurance and rent-to-price ratio to millennial homeownership rates and city friendliness.
The report features an overall ranking of the top places for first-time homebuyers, plus additional rankings by city size. A large city is categorized as having a population of more than 300,000 people; a midsize city has 150,000 to 300,000 people; and small cities include a population under 150,000.
Of the 300 places on the overarching ranking, Tampa earned top honors, followed by Overland Park, Kansas; Thornton, Colorado; and Grand Rapids, Michigan.
Atlanta came in 25th overall, ranking 10th in the country for real estate market, 103rd for affordability and 118th in quality of life. The metro also ranked third in the report’s best large cities list for first-time homebuyers.
Here’s how all Georgia cities fared:
- Atlanta: 25th in nation; third among large cities
- Roswell: 31st in nation; 14th among small cities
- Columbus: 67th in nation; 27th among midsize cities
- Savannah: 91st in nation; 38th among small cities
- Sandy Springs; 109th in nation; 47th among small cities
- Athens-Clarke: 155th in nation; 74th among small cities
- Augusta: 183rd in nation; 62nd among midsize cities
More real estate coverage for first-time home buyers from AJC:
- 7 affordable must-haves for the first-time homeowner
- 5 things to do before you start looking for a new home
- 6 common first-time homebuyer mistakes that could cost you big time
- House hunters, here are 5 secrets to getting the best home loan
- 9 hidden costs of home ownership - and how to plan for them
- This is the salary you must earn to buy an ‘average’ Atlanta house right now
- Should you rent or buy? 5 questions millennials should ask before deciding
- Here's how to determine how much house you can afford
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