0
0
0

Atlanta is one of the best large cities for first-time homebuyers

by

first-time-homebuyer-real-estate-prefernces-2017-goals-motivations-single-family-townhouse

Nearly half of those who are planning to buy a home this year are first-time homebuyers. Purchasing a home for the first time is a significant milestone for any American, and looking ahead, the first-time home buying demographic is influencing many markets around the country.

In WalletHub’s ranking of the best cities for first-time home buyers, among large cities, Atlanta ranks No. 13. With a favorable market score of 58.83 out of 100, Atlanta holds its ground against other popular housing markets in cities like Denver and Minneapolis. This may come with little surprise, considering Atlanta saw a population increase of 89,000 from 2016 to 2017 and grabbed the No. 7 spot for highest-growth real estate markets in 2018.

Experts broke down the 100 point score into thirds, measuring affordability, quality of life and market success. Affordability scores include cost of living, price per square-foot, real estate tax and insurance costs. Quality of life was determined by school systems, job markets, crime rate and even driver-friendliness. Successful real estate markets were determined based on rent-to-price-ratio, median home-price appreciation, foreclosure rate and more.

Any home buyer will understand the importance of location. Home prices may be at an all-time low in some neighborhoods, but there are many outside factors that influence a first-time home buyer, such as school districts and community resources. Relative to Tampa, Fla.’s score of 65.79, placing it at No. 1 for the largest cities and No. 2 overall,  Atlanta’s 58.83 shows a great deal of promise for new home buyers in 2018.

Read More Related to This Post

Join the conversation

New Subscribe