Have a Family? Buy a Home Here

The American Southwest has a lot to offer families, according to a new SmartAsset ranking of the best cities for homebuyers with kids.

Looking at change in home values and rent, the share of housing costs as a percent of household income, the share of cost-burdened homeowners, and three other metrics, several Arizona cities came out on top. Gilbert, Chandler, and Mesa, Ariz. took the top three spots, though Mesa tied for third with Colorado Springs, Colo. in the SmartAsset study. Gilbert scored well in affordability metrics with lots of larger homes in its housing stock, and low taxes. As well, more than 95 percent of Gilbert homes have at least two bedrooms.

When people picture the home of their dreams, they imagine the white picket fence, the yard and the home with plenty of rooms for both pets and children. But homes like this tend to be either expensive or located in places far from employment opportunities. Plus, even if you do find a home that fits your criteria you want to make sure you’re putting your savings into an asset that will appreciate. And without doing a ton of research, it’s hard to know if you’re buying into an area with rising home values or not. Below, we look at these and other factors to rank the best places to buy a home big enough to raise a family.

Read more