These Are the Best Cities for First-Time Homebuyers

Purchasing a home for the first time can be a major milestone. Due to high costs, however, this goal is becoming more challenging to achieve. A recent study from personal finance company WalletHub shows first-time buyers accounted for only 32% of the housing market last year, below the historical average of 40%. When it comes to buying a home for the first time, the study shows the Midwest is the most affordable place to purchase a home, but in terms of city size and cost of living, WalletHub found several Florida metros to be the best overall choice for first-time homebuyers.

People willing and able to invest in a house this year must balance what they want and need with what they can afford. Often, people begin searching for their dream home without a realistic idea of market prices, interest rates or even their eligibility for a mortgage. In addition, where a home is located is just as important as what features it has. If the neighborhood is unpleasant, it can sour the experience of a great home.

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