FORT WAYNE, Ind. (WOWO) – The city of Fort Wayne has been ranked 19th out of 300 cities when it comes to the best place for a first-time home buyer.
WalletHub evaluated 300 U.S. cities across three dimensions: affordability, real-estate market and quality of life.
Affordability was broken down into five categories:
- Housing Affordability
- Average Cost of Homeowner’s Insurance
- Cost of Living
- Cost per Square Foot
- Real-Estate Tax Rate
Real-Estate Market was determined with:
- Rent-to-Price-Ratio
- Housing-Market Health Index
- Share of Homes Sold in One Year
- Median Home-Price Appreciation
- Foreclosure Rate
- Buy vs. Rent Breakeven Horizon
- Share of Listings with Price Cuts
- Share of Housing Units Built between 2010 and 2015
- Building-Permit Activity
The Quality of Life category included:
- Recreation-Friendliness
- Recession Recovery
- Weather
- Quality of School System
- Driver-Friendliness
- Job Market
- Total Home-Energy Cost
- Violent-Crime Rate
- Property-Crime Rate
Fort Wayne was ranked 19th best city to for first-home buyers, 150th in Affordability, 41st in the Real-Estate Market, and 17th in the Quality of Life dimension.
The top three cities were all in Texas and include McKinney, Frisco and Allen.
The worst cities to buy a home for the first time include Colorado Springs, CO, Plano, TX, and Green Bay, WI.
