It’s one of the most exciting milestones for many consumers.
However, a number of cities in the state rank among the least attractive when it comes to buying a house for the first time, according to the personal finance website WalletHub.com.
Once city, however, placed toward the middle of the pack on the national list.
According to WalletHub, Waterbury ranked 188 on the list of 300. Its housing affordability rank was 150 and its real-estate market rank was 163. However, its living environment rank was towards the bottom at 254.
Placing just above Waterbury was Stamford at 199. The city’s housing affordability was 223, its real-estate market rank was 143 and its living environment ranked at 165.
Toward the bottom of the overall list was Bridgeport at 256, Hartford at 272 and New Haven at 283.
Topping the list was Overland Park, KS. Finishing last was Compton, CA.
WalletHub said it compared 300 cities to determine the attractiveness of their first-time home-buyer markets. It looked at 18 metrics that included housing costs, real-estate taxes and property crime rates.
The National Association of Realtors reported that among buyers of primary residences in 2014, 33 percent were first-timers. That number had previously been 40 percent.
According to a 2015 Gallup poll, 41 percent of non-homeowners don’t plan on buying a home in the foreseeable future. It was 31 percent just two years ago.
To check out the complete results of WalletHub’s study, click here.
Copyright 2015 WFSB (Meredith Corporation). All rights reserved.
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