Top 20 U.S. Cities for Starter Homes - Real Estate Investing Today

Abstract

What are the top U.S. cities for starter homes? The folks over at StorageCafe took a look at over 100 cities and ranked them across more than 20 factors including home values for 2-bedroom homes, 5-year sales activity involving properties averaging 1,700 square feet or less, mortgage rates, incomes and cost of living, to come up with the best areas and cities for first-time homebuyers. They define starter homes as being smaller and more affordable properties, and are often specifically targeted at first-time homebuyers. They are normally around 1,700 square feet or less, generally have 2 bedrooms, and are listed for less than the local median price. "Housing costs have increased dramatically in both for-sale and for-rent housing, but on a monthly basis, purchasing may still present a better option in specific feeder markets driven by tech and employment growth," says Doug Ressler, manager of business intelligence at Yardi Matrix. QuerySelectorAll("Iframe");for(var a in e.data )for(var r=0;r.