Fort Wayne ranks 19th in best place for first-time home buyer

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(Darrin Wright/1190 WOWO 107.5 FM)

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.

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