Many millennials are itching to become homeowners — here are the 17 best cities to put down roots

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More than 80% of millennials say buying a home is a priority for them.
Homeownership is more attainable in some cities than others, especially if you’re a first-time buyer.
Texas is home to six of the top-20 best cities to buy your first home, while Pittsburgh, Pennsylvania, took the No. 1 spot.

 

Home prices are up and supply is down across the US, but buying a house isn’t as tough as it may seem. You just have to know where to look.

More than 80% of millennials say becoming a homeowner is a priority for them, according to NerdWallet’s latest homebuyer report. Many are considering it “the next step in my life” and plan to buy within the next five years.

Affordable real estate is hard to come by in America’s coastal cities. Migrating to the Midwest or the South is a smart bet if you’re looking to put down roots at an affordable cost.

That’s evidenced by SmartAsset’s annual list of the best places for first-time homebuyers. SmartAsset gathered housing data for 64 metros (the US cities with a population over 300,000) related to securing a loan, the value of the average home, stability of the housing market, and affordability.

Each city was ranked in seven categories, and then given an average score. We narrowed down the list to feature the cities with a total score of 55 or higher, out of a possible 100. 

Below, check out the top 17 best places for first-time homebuyers.

17. Raleigh, North Carolina
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Loan funding rate: 76%

Value per square foot: $128.67

Median listing price: $347,248

16. Corpus Christi, Texas
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Loan funding rate: 67%

Value per square foot: $90.33

Median listing price: $209,900

15. Denver, Colorado
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Loan funding rate: 76%

Value per square foot: $322.33

Median listing price: $485,000

See the rest of the story at Business Insider

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SEE ALSO: Forget San Francisco and New York: These are the 19 best places to live where the typical home costs less than $260,000 and monthly rent is under $1,000

DON’T MISS: Millennials love this new housing community in a forgotten stretch of California thanks to its ultrafast internet and dirt-cheap home prices


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