BY BRAD BECKETT ON MAY 11, 2021
What are the best cities for first-time home buyers? Realtor.com says homes across the country are selling within days (with multiple offers) pricing out buyers of all ages—especially millennials. Click here to read more.
With that in mind, their number-crunchers recently put pen to paper to find out the best cities for 1st time buyers.. They looked at 800 cities with a minimum population of 50k, then applied several metrics including home prices, for-sale inventory, people aged 35-34, job opportunities and fun amenities such as bars and restaurants.
“For a first-time home buyer in this generation, the issue of affordability is front and center, and that’s especially true for many millennials who moved to big cities to start and build their careers,” says George Ratiu, senior economist at realtor.com. “Between student debt, slow-growing wages, and fast-growing home prices, when the pandemic hit they were still in these large cities but no closer to being able to afford a home.”