Whether you’re in the real estate business or you’re looking to move in the near future, it’s helpful to know where the best real estate markets are. Buying a home or investing in real estate is no small feat, and it requires research. Fortunately, the research has been done for us!
The website WalletHub recently compared 300 cities and determined which cities are the best places to buy a house. To draw their conclusions, the site used a variety of factors including median home-price appreciation, home sales turnover, and job growth. They also considered the number of homes in foreclosures, the percentage of homeowners who are delinquent on their mortgages, and the lowest costs of maintaining homes in that area.
Based on their findings, the best place to buy a house in the United States today is Boise, Idaho. The rest of the top ten includes five different Texas cities: Frisco, Denton, McKinney, Carrollton, and Allen. Other cities that ranked high on the list were Overland Park, KS, Cary, NC, Durham, NC, and Fort Wayne, IN.
Aurora, CO, Charlotte, NC, Nashville, TN, and Lexington, KY all ranked high on the list of best large cities to buy a home. Among the best small cities are Murfreesboro, TN, Thornton, CO, and Spokane Valley, WA.
In case you’re curious, the cities that fell at the bottom of the list were Newark, NJ, Detroit, MI, Dayton, OH, Miami Beach, Florida, Elizabeth, NJ, Jackson, MS, Peoria, IL, Baltimore, MD, Birmingham, AL, Paterson, NJ, and Flint, MI.
Newark, Dayton, and Bridgeport, CT are the cities with the highest percentage of homes with negative equity. Several cities in New Jersey and Florida ranked at the bottom of the list for the average number of days until a house is sold, while California cities such as Berkley, San Francisco, and San Mateo dominated the top of the list.