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The First time buyer index names Oxford as the best city for first time buyers. The town famous for dreamy spires and fictional murders offers higher than average salaries. The average household disposable income is an impressive £28,000.
Worst places for first-time home buyers Meanwhile, real estate newbies might want to flee California (if they haven’t already), which has seven of the 10 worst cities for first-time home buyers.
Bankrate.com compiled a list of the 10 best U.S. metropolitan areas for first-time homebuyers and Pittsburgh was at the top, ranked first for both affordability and safety.
To find the top contenders, we ran the data to find the best cities for first-time homebuyers. We looked specifically at data on seven factors: the number of HUD-approved lenders, loan funding ratios, the average price per square foot, housing affordability, homeowner stability, home price volatility and the number of negative quarters over the past six years.
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By contrast, the median price of homes bought by first-time buyers comes is well below that at $182,500, The New York Times reported after crunching NAR data. Fortunately, there are a number of markets across the country — cities and their suburbs — where prices are friendlier for first-time buyers.
Luckily, there are still plenty of small and mid-sized cities around the country that are affordable and welcoming for first-time buyers. Some of these fantastic cities even provide incentives and programs to entice new homeowners to invest in the community. Looking to set down some roots? Here are Livability’s seven best cities for first-time.
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For the 2019 Bankrate Best/Worst Metros for First-time Buyers Study, we looked at 13 measures related to affordability, culture, job market, market tightness and safety for the nation’s 50.
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