Despite all the reports indicating Colorado’s housing market is impossibly tight, three Front Range communities have landed on WalletHub’s list of the best cities for first-time home buyers.
Centennial, Longmont and Thornton are among the top 10 markets on the list. Arvada, Colorado Springs and Westminster were among the top 20, with Greeley coming in at 21.
WalletHub compared 300 U.S. cities to determine the attractiveness of their first-time homebuyer markets using 18 key metrics ranging from housing costs to real-estate taxes to property crime rates.
Colorado Springs’ real-estate taxes are the fifth-lowest in the country, while Centennial has the second-lowest property crime rate.
Last year, the National Association of REALTORS® reported that among buyers of primary residences 33 percent were first-time buyers. The historical average for this group has been 40 percent. According to a recent Gallup poll, 41 percent of people who don’t own homes this year don’t plan to buy a home in the foreseeable future, compared with 31 percent two years ago.