Although there’s no end in sight for the pandemic right now, restrictions have loosened for most states. One of the hardest-hit industries during the pandemic was real estate, considering the stay-at-home orders and restrictions. With looser restrictions, the housing market is seeing a rise in purchases. That said, SmartAsset published research regarding the best and worst places to buy a home in the U.S. Let’s take a look at where to buy or sell a home and which ones to avoid.
Factors Why There Are Best and Worst Places to Buy Homes
But before we list down the best and worst places to buy a home in the U.S., here are reasons why certain places have better or worse living conditions:
- Quality of life
- Job stability
- Crime rate
- Environmental factors
- Population growth
Top 10 Best Places to Buy a House in the U.S.
Do you have enough money to buy a new home for yourself or your family? Buy your home in these places:
- Austin-Round Rock-Georgetown, TX
- Boulder, CO
- Midland, TX
- Rapid City, SD
- Fort Collins, CO
- Houston-The Woodlands-Sugar Land, TX
- Dallas-Plano-Irving, TX
- Odessa, TX
- Kennewick-Richland, TX
- San Angelo, TX
That said, why are many enticed to buy homes in the Lone Star State? Only two cities from Colorado and one city from South Dakota break the Texas domination in the Top 10.
According to Wallet Hub, factors include affordable rates and the job market. Plus, with the pandemic, working from home has become a norm. After all, if you have an internet connection, you can work anywhere. Plus, Jill Gonzalez, an analyst at WalletHub, says that low foreclosure rates and a large share of homes could contribute to the reasons why Texas is the best state to buy homes in.
Aside from Texas, here are the other cities and states to buy houses from in the U.S.
- San Angelo, TX
- San Antonio-New Braunfels, TX
- Waco, TX
- Cheyenne, WY
- Billings, MT
- Fort Worth-Arlington-Grapevine, TX
- Bismarck, ND
- College Station-Bryan, TX
- Burlington-South Burlington, VT
- Los Angeles-Long Beach-Glendale, CA
- San Jose-Sunnyvale-Santa Clara, CA
The Worst Places to Buy a House in the U.S.
On the other hand, here are the top 10 places you want to avoid when buying your new home:
- Flint, MI
- Monroe, MI
- East Stroudsburg, PA
- Detroit-Dearborn-Livonia, MI
- Rockford, MI
- Kokomo, IN
- Saginaw, MI
- Bay City, MI
- Mansfeld, OH
- Toledo, OH
Flint remains at the top of the worst list. Since 2016, it has been reported that Flint is very dangerous to live in due to high crime rates. Plus, financial factors come into play as well. Also, there was the Flint Water scandal. It was discovered there was lead contamination in tap water. Back in 2018, there were reports that tap water had already improved.
What are the other places in the U.S. to avoid when buying a house:
- Warren-Troy-Farmington Hills, MI
- Lawton, OK
- Jackson, MI
- Lansing-East Lansing, MI
- Cleveland-Elyria, OH
- Elgin, IL
- Akron, OH
- Lake County-Kenosha County, IL-WI
- Canton-Massillon, OH
- Cumberland, MD-WV
Tips on Buying a House
- Make sure when you’re buying a home, you have enough saved up for taxes, insurance, and mortgage. Having a home is a long-term commitment. But it’s also an investment.
- Consult with a financial advisor. You will need help from a financial expert if you’re ready to buy a home and the type you can purchase with your budget.
- Ensure that you have a good credit score before buying a home. It will become a factor in your mortgage and interest rates.
- Once you’re all set with pre-approval, mortgage plans, and other financial factors, look for a real estate agent to help you find the best home.
- Aside from a real estate agent, make sure to find an appraiser and inspector for your home. Having these people will help you know the current value and state of your house.
