Tampa ranked No. 1 city for first-time homebuyers

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FILE-In this April 26, 2012, file photo, a sign advertises a pending residential real estate sale in Framingham, Mass. (AP Photo/Bill Sikes)

TAMPA, Fla (WFLA) – First-time homebuyers looking in Tampa: you’re in luck.

WalletHub recently compared 300 cities of varying sizes across 27 indicators of market attractiveness, affordability and quality of life.

Source: WalletHub

Taking the top spot among those 300 cities is The Big Guava, which collected high scores in the category of housing-market health, median home-price appreciation and home-ownership rate for millennial, a generation of adults between the ages of 23 and 39.

In March, Zillow produced a similar list which also put Tampa as the best city for first time homebuyers.

 In 2018, 39% of all U.S. single-family home purchases were made by first-time buyers.

Florida saw a 33 percent first-time homebuyer market growth rate between 2014 and 2018 according to data compiled by Genworth Mortgage Insurance.

“The shortage of starter homes across the country is finally starting to ease, and that’s good news for would-be first-time buyers who have been saving up to make the leap into homeownership,” said Skylar Olsen, Zillow’s director of economic research about the March 2019 analysis. “Unfortunately, prices of homes in the lower third of the market have risen so much in recent years that for many households’ budgets they no longer qualify as affordable. But markets like Tampa and Las Vegas still provide plenty of bargains.”

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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