If you’re thinking about buying your first home, you have much to look forward to. In addition to being an excellent investment, owning a home provides you with stability, comfort, and privacy.
While many US housing markets are increasingly unaffordable for first-time homebuyers, there are exceptions, and Bankrate recently ranked the top five most affordable states for buying your first home. The rankings were based on housing affordability, the job market for young adults, housing supply, credit availability, and the homeownership rate.
If you’re a first-time homebuyer who desires affordability, consider these states:
When it comes to housing affordability for first-time buyers, look between the coasts
It’s a challenging environment for first-time homebuyers in many parts of the USA. The states in this list may not have the name recognition of California and Florida, but homes are much more affordable, have strong economies, and the cost of living is low.
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