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Report: D.C. is the one of the worst cities for first-time homebuyers

Moving elsewhere might be a better deal, unfortunately

Photo via Shutterstock/Kamira

Interested in finally making the first step to becoming a homebuyer? According to WalletHub, Texas might be your best bet. Out of 300 cities analyzed, the top three best places for first-time homebuying are the cities of McKinney, Frisco, and Allen in the state of Texas. Each ranked high overall in affordability, the quality of the real estate market, and quality of life.

Unfortunately, Washington, D.C., didn’t fare so well. It ranked in 283th place, or seventh worst. When comparing D.C. to 62 total cities with at least 300,000 residents, it ranked in 56th place. The issues that caused the District to rank so low included its limited affordable housing options, high cost of living, property crime rates, and median home price appreciation.

To learn more about the methodology of these findings, go to WalletHub’s website here. For more of the main findings, go to WalletHub’s website here.

Source: WalletHub

2017’s Best & Worst Places for First-Time Home Buyers [WalletHub]