4 Great Cities for First Time Homebuyers

Looking for a great city to settle down and start a family can be a hard task.  First-time homebuyers need security and long-term investment to feel comfortable buying.  As we all know, the housing market has its highs and its lows, and that is just the normal cycle.  There is always a stretch where the market rises, and we enter a seller’s market followed by a shorter stretch where the market tends to favor the buyers. This fluctuation in the housing market can make buying a home somewhat daunting for first-time homebuyers, especially when the real estate market is so hot.  First-time buyers are looking to buy in a city where they can settle long term, but often wonder if the market is too hot to buy.  So hot in fact that they are forced to look all across the country looking for a city with fair home prices and a solid job market.

Here is a list of four cities in the US where home prices are not rising too fast and contain a rich, diverse economy.  Buying or renting to own a home in any one of these cities is a solid investment in real estate and a future.

Sacramento, California
For those of you who can’t afford to buy the San Francisco Bay area but still want to stay in California, then take a good look at Sacramento.  Sacramento is not cheap per se, but it is one of the more affordable large metros in California.  Since Sactown is the state capital, buying real estate is a wise investment.  The economy is strong, and the prices are right for the area.
Average Home Price: $429,000
Job Growth:
1.1%
Unemployment:
4%
Wage Growth: 5.1%

Austin, Texas
Austin is located just north of San Antonio and is a great place for people looking for the small town feel with all the benefits of living in a big city. Cruise down 6th Street, experience Austin’s nightlife with cheap drinks and live music on just about every corner. While Austin is one of the more expensive cities in Texas, it is still cheap compared to the other major metro markets and has a booming economy.
Average Home Price:  $336,995
Job Growth:
2.3%
Unemployment:
 2.7%
Wage Growth: 2%

San Antonio, Texas
San Antonio Texas is one of the best deals in the country right now for a first time homebuyer.  San Antonio boasts a solid and growing economy with a low unemployment rate.  The average home price in San Antonio is one of the lowest in the country for a large metropolitan city.  Additionally, San Antonio is a beautiful place to live in near-perfect weather.
Average Home Price:  $269,499
Job Growth:
4.2%
Unemployment:
 3%
Wage Growth: 1%

Honolulu, Hawaii
Yes, we know that Hawaii has some of the highest home values in the country.  However, what you may not know, Honolulu is still a great investment. Come on; it is Hawaii.  Buying property in Honolulu is a great investment opportunity since real estate in Hawaii is always in demand.
Average Home Price:  $630,000
Job Growth:
2%
Unemployment:
 3.6%
Wage Growth:  5.6%