Texas is a Great Place for First-Time Home Buyers
We're lucky in Texas that for the most part, the job market is steady and houses are affordable.
That makes us one of the best places in the country to buy a first home, and it doesn't look like that will change anytime soon. See which Texas city ranks higher than any other.
WalletHub’s analysts looked at 300 different-sized cities and factored in housing affordability with real-estate tax rate and property-crime rate. No Texas cities are in the Top 10, but Amarillo, Laredo, and Allen are in the Top 15.
The best place for first-time home buyers is Overland Park, KS. Others ranked ahead of Texas include Greeley, CO; Thornton, CO; Cedar Rapids, IA; Westminster and Longmont, CO, and Lincoln, NE.
Wanna move? The worst/most expensive places for first-time home buyers are in California, New York, New Jersey, and Arizona.
The good news is, if you have a job with a decent salary in Texas and you have good credit, buying a house here is a practical step that's not out of reach for most people. But here's the down side -- there are a lot house-hunters with decent salaries and good credit who are right there with you, and they might beat you to the perfect house. It can be competitive.
Can you imagine trying to pay $750,000 or more for your first home? We can be glad we aren't paying inflated prices like they are in New York, San Francisco, or Honolulu. And when you look at it that way, life here is pretty good.