El Paso Named 7th Best Large City For First Time Home Buyers
If you're looking to purchase a home for the first time, Texas is the place to look! Especially in El Paso.
If people are looking to purchase their first home, it's a good thing that we are here in Texas! According to a new report from WalletHub, Texas is one of the best states for prospective homebuyers. There are many factors that people need to look at, not only at the homes and neighborhoods they are looking at but also at the cities they want to purchase a home in.
The personal finance site looked at various factors including cost of living, affordable housing, real-estate tax rate, rent-to-price ratio, median home-price appreciation, property-crime rate, total home-energy cost and more. Taking this information, WalletHub made a list of the best cities for first-time home buyers. They also looked at the best cities by city size too!
According to the site, El Paso came in as the 7th best large city for first-time home buyers. Here is how El Paso ranked on their list:
Buying a First Home in El Paso (1=Best; 150=Avg.):
- 23rd – Cost of Living
- 50th – Rent-to-Price Ratio
- 41st – Property-Crime Rate
- 62nd – Total Home-Energy Cost
Overall on the list El Paso came in at 35. Looking at the Top 10 for Large, Mid and Small cities, Texas cities came in 8 times. Read more about this report at the WalletHub website.