NYC Is Listed As The Worst City For First Time Homebuyers...Here's Why!


LendingTree has come out with their annual rankings of the best areas for first-time homebuyers

They looked at a variety of factors including average down payment, share of buyers utilizing FHA loans and more

Best

1.Kansas City, MO

2.Oklahoma City, OK

3.Louisville, KY

4.St. Louis, MO

5.Salt Lake City, UT

6.Memphis, TN

7.Cleveland, OH

8.Birmingham, AL

9.Richmond, VA

10.Atlanta, GA

As for the worst metro area to buy a home.... it's New York City, where the average home downpayment is $91,453.(And the home is probably half the size.)

Worst

1. New York, NY

2. San Jose, CA

3. San Francisco, CA

4. San Diego, CA

5. Miami, FL

6. Chicago, IL

7. Los Angeles, CA

8. Boston, MA

10. Denver, CO (tie)

10. Charlotte, NC (tie)

10. Austin, TX (tie)


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