Housingwire Magazine profiled first-time homebuyers and first-time homebuyer markets in their March 2012 Investments Issue. Their research indicated home affordability, neighborhood safety and school quality are top criteria for first-time homebuyers.
Their list of top first-time buyer markets and bottom first-time homebuyer Markets utilized data from sources such as: The National Association of Home Builders, the U.S. Department of Education and the Federal Bureau of Investigation.
The rankings analyzed school quality, crime rate and unemployment rates to rank the 40 most affordable housing markets and the 40 least affordable markets. Local school quality figures were given less weight than state school indicators because of the lack of availability of local stats. Here are the top five and bottom five, first-time homebuyer markets for 2012:
Top First-Time Homebuyer Markets
- Quad Cities, Iowa-Illinois
- Houston, TX
- Wichita, KS
- Lancaster, PA
- Lima, OH
Bottom First-Time Homebuyer Markets
- New York, NY
- Los Angeles, CA
- San Francisco, CA
- Orange County, CA
- Ocean City, NJ
Markets change constantly. As always, independent research with the help of a real estate professional is recommended.
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Source: Housingwire Magazine. First Home Hunting by Justin T. Hilley, Housingwire Magazine March 2012 Flip book article on Top and Bottom First-Time Homebuyer Markets.