Henderson Nevada Ranked in Top Five Best Large Cities for First-Time Homebuyers
LAS VEGAS, NV – Nowadays, young families are struggling more than ever to purchase their first home. Due to a combination of soaring home prices and near-record high interest rates on home mortgages, the dream of home ownership is slowly slipping away from many Americans.
However, there are some areas of the country where you have a better shot of finding an affordable home than others, and according to personal finance website WalletHub, three cities in Nevada rank in the top 300 of the best places for first-time homebuyers, with one of those cities actually placing way up in the list’s prestigious top five.
WalletHub’s Best & Worst Cities for First-Time Home Buyers ranking takes numerous factors into account when establishing its placings, including affordability, the overall real estate market, and quality of life, drawing data from numerous sources, including the U.S. Census Bureau, the Bureau of Labor Statistics, the Department of Housing and Urban Development, as well as the FBI.
Overall, Reno was ranked at no. 52 and North Las Vegas at no. 39, although both of these Nevadan cities actually ranked even higher when compared to other cities whose population sizes were similar.
However, Henderson ranked at no. 18 on the list overall, and that placing shot up to an impressive no. 5 when compared to other large cities with populations of 300,000 and higher.
Henderson also drew high marks overall in individual categories such as affordability, where it placed at no. 50 in terms of home price vs. household income, insurance costs, real estate taxes, and cost per square foot. It also placed at no. 132 for quality of life, which takes into account factors such as school system quality, crime rates, weather, driver friendliness and job market.
Henderson also reached no. 42 in the real estate market category, which examines variables such as rent-to-price ratio, home price appreciation, foreclosure rate, number of listings, and millennial homeownership.
Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.
Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management