ARIZONA NEWS

Report: Surprise, Gilbert are good spots for first-time home buyers

Jul 22, 2023, 10:00 AM

A Gilbert homebuilder was the winning bidder in a state land auction on June 28 at the Arizona Stat...

A Gilbert homebuilder was the winning bidder in a state land auction on June 28 at the Arizona State Land Department. (Rendering by Mark Boisclair)

(Rendering by Mark Boisclair)

PHOENIX — Two Arizona cities ranked within the top 10 of a report that lists the best U.S. cities for first-time home buyers.

With 26% of home purchases last year made by first-time buyers, the personal-finance website WalletHub recently released its Best & Worst Cities for First-Time Home Buyers report.

Surprise ranked sixth and Gilbert ranked seventh.

To create its list, WalletHub took the pulse of real estate in 300 cities of varying sizes using 22 key metrics. The data set ranges from housing affordability to real-estate tax rate to property-crime rate.

Palm Bay, Fla. ranked first on the list. The next four cities were also in Florida.

Berkeley, Calif. ranked 300th.

Springfield, Ill., has the most affordable housing (median house price divided by median annual household income), with a ratio of 1.67, which is 17.5 times cheaper than in Santa Barbara, Calif., the city with the least affordable housing, with a ratio of 29.24.

The full report is available online.

So, what should first-time homebuyers consider when choosing a neighborhood?

“A primary consideration should be how long they intend to stay in the home,” Brad Segal, the president of Progressive Urban Management Associates, said in a press release. “If it is for less than five years, then think about amenities and services that meet their current lifestyle – a nearby collection of restaurants, shopping, recreational activities, and perhaps close proximity to work may all be important.

“If it is for more than five years, then consider potential lifestyle changes over time – if raising a family is anticipated, the quality of schools, parks and trails, and family amenities may be more
critical.”

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

organized-retail-thief...

KTAR.com

Valley organized retail thief sentenced to 3.5 years in prison

The 40-year-old stole over $1,000,000 in stolen merchandise from home improvement stores across the Southwest.

5 hours ago

American Airlines put an unspecified number of employees on leave for their involvement in an incid...

Associated Press

American Airlines CEO calls removal of Black passengers from Phoenix flight ‘unacceptable’

American Airlines put an unspecified number of employees on leave for their involvement in an incident in which several Black passengers were removed from a flight in Phoenix.

6 hours ago

The Maricopa County Attorney's Office is seeking to revoke the probation of 20-year-old Jacob Penni...

Danny Shapiro

MCAO seeks to revoke probation for East Valley youth violence suspect arrested on alcohol charges

Maricopa County Attorney Rachel Mitchell said Thursday her office has filed a petition to revoke probation for an East Valley youth violence suspect who was arrested on an alcohol charge the same day of his sentencing.

7 hours ago

It was a hazy Thursday in Phoenix. (ADOT traffic camera photo)...

KTAR.com

Notice the hazy day in Phoenix? Here’s why it happened

It was a hazy Thursday in the Phoenix area and forecasters said there was a good reason for the abnormal conditions.

8 hours ago

Attorney General Kris Mayes sued Arizona on June 20, 2024, in an attempt to block the state from us...

KTAR.com

AG Kris Mayes sues Arizona over plan to use $115 million in opioid settlement funds for budget deficit

Attorney General Kris Mayes sued Arizona on Thursday in an attempt to block the state from using $115 million in opioid settlement funds to remedy budget deficits.

10 hours ago

The shooting death of a 39-year-old man on Interstate 10 in Phoenix on June 10, 2024 has been ruled...

KTAR.com

Shooting death of 39-year-old man on Interstate 10 in Phoenix ruled a homicide

The shooting death of a 39-year-old man on Interstate 10 in Phoenix earlier this month has been ruled a homicide, authorities said Thursday.

11 hours ago

Sponsored Articles

...

Midwestern University

Midwestern University Clinic visits boost student training & community health

Going to a Midwestern University Clinic can help make you feel good in more ways than one.

...

Condor Airlines

Condor Airlines can get you smoothly from Phoenix to Frankfurt on new A330-900neo airplane

Adventure Awaits! And there's no better way to experience the vacation of your dreams than traveling with Condor Airlines.

...

Collins Comfort Masters

Here’s 1 way to ensure your family is drinking safe water

Water is maybe one of the most important resources in our lives, and especially if you have kids, you want them to have access to safe water.

Report: Surprise, Gilbert are good spots for first-time home buyers