Small Cities Best Suited For First-Time Buyers

Gilbert, Ariz., is still recovering from the recession, and first-time buyers can take advantage of that. The growing city features good weather, plenty of outdoor activities from hiking to golf, and affordable housing. A median price home in 2015 was $284,000, which is well within reach for a Gilbert resident who makes the median income of $86,000.

NerdWallet found 10 small cities that first-time buyers should consider based on affordability, livability and price stability. Suburbs dominated the list, as they offer some of the lifestyles of a big city at a better price.

Carmel, Ind. ranked first, with reasonable home prices ($318,800) and impressive median incomes ($108,660). The list also included Johns Creek, Ga., Fishers, Ind., and Sugar Land, Texas.

States like Indiana and Texas dominate the list because they have affordable housing, good schools and plenty of jobs. Folks starting out can build a solid financial foundation in these states because they don’t have to devote an outsized portion of their paychecks to housing.

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