Top cities to buy your first home in the USA

Buying a first home indicates that you have reached the level of financial success and maturity you need to take responsibility for home ownership. But in some cities this step is easier than in others.

Фото: Depositphotos

Edition GO Banking Rates analyzed various economic data to determine which cities are the best for first home buyers. Ratings are based on criteria such as the number of houses alienated for non-payment of a mortgage; average house price; the share of mortgage loans insured by the Federal Housing Administration (a third of the first home buyers choose this type of loan), since there is a lower down payment and other factors.

Top cities to buy your first home in the USA:

15. New Orleans, LA

• number of houses foreclosed for non-payment of mortgage - 1 for every 2 houses
• the share of mortgages insured by the Federal Housing Administration is 31%
• average home price: $235

14. Pittsburgh, PA

• the number of houses foreclosed for non-payment of mortgages - 1 for every 1 houses;the share of mortgages insured by the Federal Housing Administration is 35%
• average home price: $169

13. Memphis Tennessee

• number of houses foreclosed for non-payment of mortgage - 1 for every 1 houses
• the share of mortgages insured by the Federal Housing Administration is 32%
• average home price: $165

12. Louisville, KY

• number of houses foreclosed for non-payment of mortgage - 1 for every 1 houses
• the share of mortgages insured by the Federal Housing Administration is 37%
• average home price: $219

11. Cincinnati, Ohio

• number of houses foreclosed for non-payment of mortgage - 1 for every 1 houses
• the share of mortgages insured by the Federal Housing Administration is 39%
• average home price: $215

10. Wichita, KS

• number of houses foreclosed for non-payment of mortgage - 1 for every 2 houses
• the share of mortgages insured by the Federal Housing Administration is 35%
• average home price: $164

9. Indianapolis Indiana

• number of houses foreclosed for non-payment of mortgage - 1 for every 1 houses
• the share of mortgages insured by the Federal Housing Administration is 37%
• average home price: $225

8. Minneoapolis, MN

• number of houses foreclosed for non-payment of mortgage - 1 for every 3 houses
• the share of mortgages insured by the Federal Housing Administration is 37%
• average home price: $334

7. Baton Rouge, LA

• number of houses foreclosed for non-payment of mortgage - 1 for every 3 houses
• the share of mortgages insured by the Federal Housing Administration is 35%
• average home price: $224

6. Cleveland Ohio

• number of houses foreclosed for non-payment of mortgage - 1 for every 915 houses
• the share of mortgages insured by the Federal Housing Administration is 47%
• average home price: $159

5. Columbus Ohio

• number of houses foreclosed for non-payment of mortgage - 1 for every 1 houses
• the share of mortgages insured by the Federal Housing Administration is 40%
• average home price: $234

4. McAllen, Texas

• number of houses foreclosed for non-payment of mortgage - 1 for every 1 houses
• the share of mortgages insured by the Federal Housing Administration is 38%
• average home price: $180

3. Detroit, MI

• number of houses foreclosed for non-payment of mortgage - 1 for every 2 houses
• the share of mortgages insured by the Federal Housing Administration is 42%
• average home price: $189

2. Toledo Ohio

• number of houses foreclosed for non-payment of mortgage - 1 for every 1 houses
• the share of mortgages insured by the Federal Housing Administration is 44%
• average home price: $127

1. Grand Rapids, MI

• number of houses foreclosed for non-payment of mortgage - 1 for every 2 houses
• the share of mortgages insured by the Federal Housing Administration is 49%
• average home price: $235

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