Fort Worth ranks among the 10 best big cities for first-time homebuyers
Those venturing into homeownership may want to bring their house hunt to Fort Worth, as a new study names it one of the 10 best big cities in the U.S. for first-time homebuyers.
Personal finance website WalletHub compared the 300 largest U.S. cities to determine which are the best and worst for folks looking to purchase their first home this year. Ever-booming Fort Worth ranks 52nd overall and an even better No. 10 among large cities.
The site measured each city in three major areas: affordability, real estate market, and quality of life.
Fort Worth has the nation's sixth-best real estate market, according to WalletHub, which takes into account the rent-to-price ratio, share of homes sold in a year, median home-price appreciation, and more.
It ranks 112th in quality of life, which encompasses such metrics as recreation facilities, quality of school system, and job market. And in terms of affordability (cost of living, housing affordability, cost of homeowner's insurance, real estate tax rate, and more), Fort Worth ranks 173rd.
The Lone Star State's suburbs shine brightest in the WalletHub study, with McKinney landing as the No. 9 best city for first-time homebuyers on the overall list, followed by Frisco at No. 13. Texas' suburbs, including Richardson, Allen, and Denton, also dominate the real estate market category nationwide.
As for Texas' other major cities, you'll find them much lower on WalletHub's lists.
Dallas takes the No. 44 spot on the large cities list, far better than its 204th overall ranking.
Austin performs considerably better at No. 25 among large cities and No. 132 overall, while San Antonio lands at No. 31 among large cities and smack-dab in the middle at No. 150 overall. Houston, meanwhile, ranks among the worst cities for first-time homebuyers at No. 242 overall and No. 50 among large cities.