Grand Rapids ranked No. 4 in best cities for first-time home buyers

Mortgage

Those looking to purchase a home for the first time would be wise to consider Grand Rapids, Mich.

That’s based on data from a Wallethub study, which ranked Beer City USA as the 4th best city in America for first-time homebuyers.

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Released on July 9, the study examined compared 300 cities of varying sizes across 27 key indicators including market attractiveness, affordability, quality of life, real estate taxes and property-crime rate.

Grand Rapids, which was named the 3rd best city for first-time home buyers by Lending Tree in 2018, was buoyed by its real-estate market rank of 14 in the Wallethub study.

That category examines several metrics including number of homes sold in a year, real estate agents per capita, homeownership rate of millennials and building permit activity.

Grand Rapids was also ranked 39th in affordability and 116th in quality of life. It is also noted for having one of the highest median home price appreciation, as is Dearborn.

Tampa, Fla., Overland Park, Kan., and Thornton, Colo., were the only cities ranked ahead of Grand Rapids.

Flint and Lansing are noted in the study as having among the lowest costs of living in the United States.

Detroit has one of the highest real estate tax rates, according to the study, and Sterling Heights has one of the lowest property crime rates in America.


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