Eight California cities ranked among worst 10 spots for first-time homebuyers. Where are they?

Several California cities are among the worst places for first-time homebuyers, according to a new WalletHub study.

The personal finance company evaluated 300 cities across the United States based on real estate market attractiveness, affordability and quality of life to identify the best locations to settle down.

“Buying a home for the first time is a very stressful and difficult process, especially when housing prices are through the roof and interest rates have risen sharply in the past few years,” WalletHub analyst Cassandra Happe said in the report, released Tuesday.

As of Tuesday, the average California home value was $786,730 and the average 30-year fixed mortgage rate was 6.51%, according to Zillow.

“The best cities for first-time homebuyers not only are affordable both in terms of buying a house and living there afterward, but they also have a lot of housing choices as well as low crime rates and good schools,” Happe said.

While eight California cities were among the top 10 worst places for first-time homebuyers, Florida boasted the top five best cities folks looking to purchase housing, according to the WalletHub study.

Where are best US cities for first-time home buyers?

Palm Bay, Florida, is the best place in the country for first-time homebuyers, WalletHub said, earning a total score of 68.91 out of 100.

The city “leads the country when it comes to active home listings per capita and new building permits per capita,” the personal finance company said.

Palm Bay has the third-highest millennial home-ownership rate and a “pretty decent school system” for children, WalletHub said.

The city has the fourth-highest home appreciation rate in the country, with home values increasing by 106% from 2016 to 2022.

Cape Coral, Florida, secured second place on WalletHub’s list of top spots for first-time homebuyers, earning a score of 67.32.

The city has a high number of active home listings, new building permits per capita, a low crime rate and the ninth-best school system.

“It also leads the country when it comes to real-estate agents per capita, which helps ensure that people are able to find good houses for their needs and makes the process go more smoothly,” WalletHub said.

Port St. Lucie, Florida, ranked third among the best U.S. cities for first-time homebuyers, with a score of 66.06.

The city “stands out for having a large number of new building permits and active home listings per capita,” WalletHub said.

It has low crime rates, the second-highest millennial homeownership rate and a good school system for kids.

Here are the top 10 cities in the United States for first-time homebuyers, according to WalletHub:

1. Palm Bay, Florida
2. Cape Coral, Florida
3. Port St. Lucie, Florida
4. Tampa, Florida
5. Orlando
6. Surprise, Arizona
7. Lakeland, Florida
8. Boise
9. Gilbert, Arizona
10. Henderson, Nevada

What are the best cities in California for first-time home buyers?

The Sacramento area is home to two of the top cities in California for first-time homebuyers, according to the WalletHub study.

Roseville earned an overall ranking of No. 30, with a total score of 58.5 out of 100.

The city was No. 131 in terms of affordability, No. 56 in real estate and No. 46 in quality of life.

Elk Grove was listed as the second-best city in California for first-time homebuyers by WalletHub, landing at No. 56.

The city had a total score of 56.44. It ranked No. 125 in affordability, No. 111 in real estate and No. 50 in quality of life.

According to the study, Clovis was the third-best city in California for people buying a house for the first time, with a total score of 56.42.

Out of the 300 U.S. cities, Clovis came in 57th place.

Clovis ranked No. 104 in affordability, No. 142 in real estate and No. 31 in quality of life.

What are the worst US cities for first-time homebuyers?

Eight California cities were among the top 10 worst places for first-time homebuyers, according to WalletHub.

The personal finance website picked Berkeley as the worst city overall for first-time homebuyers.

Earning a total score of 29.12, the Bay Area city ranked No. 297 in affordability, No. 263 in real estate and No. 281 in quality of life.

Santa Monica was the second-worst spot for first-time homebuyers, earning a WalletHub score of 67.32.

The Southern California city placed No. 300 in affordability, No. 276 in real estate and No. 188 in quality of life rankings.

Here are the worst U.S. cities for first-time homebuyers:

1. Berkeley
2. Santa Monica
3. Anchorage, Arkansas
4. Santa Barbara
5. Oakland
6. San Francisco
7. Los Angeles
8. Glendale
9. Costa Mesa
10. New York

How did WalletHub come up with its findings?

WalletHub analyzed 300 U.S. cities across based on affordability, real estate market and quality of life to identify the best housing markets for first-time home buyers.

The website used 22 metrics to score the cities, including home affordability, property taxes, crime rates, school quality and home price appreciation.

Cities were then ranked based on their overall scores to reflect their relative suitability for first-time home buyers.

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