July 10th, 2019
Grand Rapids ranked No. 4 best city for first-time home buyers in the US
In an evaluation of 300 cities throughout the U.S., WalletHub found Grand Rapids, Mich. to be the No. 4 best location for first-time home buyers in the country.
In an evaluation of 300 cities throughout the U.S., WalletHub found Grand Rapids, Mich. to be the No. 4 best location for first-time home buyers in the country. Key dimensions in the ranking include Affordability, Real-Estate Market and Quality of Life. The Washington, DC-based online personal finance and credit monitoring platform used 27 relevant metrics on a 100-point scale to rank each city.
Several credible sources were used throughout the research process, including: the U.S. Census Bureau, Bureau of Labor Statistics, Council for Community and Economic Research, U.S. Department of Housing and Urban Development and more.
Out of the 300 cities of varying sizes evaluated, Grand Rapids placed 39th in affordability, 14th in Real Estate Market, and 116th in Quality of Life, putting the city in fourth place overall with a total score of 65.21 (out of 100).
Out of the 100 comparable midsize cities researched, Grand Rapids was ranked as the second best location.
Overall Best Places for First-Time Home Buyers
- Tampa, Fla. (67.14)
- Overland Park, Kan. (67.04)
- Thornton, Colo. (66.3)
- Grand Rapids, Mich. (65.21)
- Boise, Idaho (65)
- Greeley, Colo. (64.79)
- Peoria, Ariz. (64.57)
- Arvada, Colo. (64.53)
- Mckinney, Texas (64.27)
- Centennial, Colo. (64.21)
Source: WalletHub
Visit the WalletHub website to view the full ranking list and find more details regarding the research methodology.