While Americans are more prone to renting than buying homes these days (depending on who you ask), there are still buyers jazzed about buying their first home.
While the current housing market is at a surplus of inventory, without many buyers with enough capital to spend, the market post the massive 2008 housing has recovered from the worst drop since the Great Depression. With more millennials than ever moving to metropolises to enjoy their youth surrounded by like-minded people and endless food, entertainment, and culture, there are still some cities supplying young and mature buyers alike with vast possibilities when it comes to buying a home.
1. Houston, Texas
Houston isn’t only Beyonce’s birthplace. One of Texas’ greatest cities, Houston also has incredibly affordable housing when it comes to both buying and renting. Houston offers fantastic multicultural food, a wildly diverse population, and no state income tax. Not to mention Texas offers sunshine almost all year long.
2. Miami, Florida
Speaking of steamy weather, Miami is another major metropolis offering an exceptionally good buyer’s market. Besides the weather being a little humid, Miami has a vibrant and thriving fashion and arts community comprised of citizens from around the world. With so much to do, and Miami remaining a tourist destination for people all over the country, Miami is not only a great place to settle down, but also to invest in.
3 .New York, New York
One of the most expensive cities on the list (if not the most expensive) is New York City. Because of the global draw of the city, and the countless opportunities for investing, New York remains as one of the best buyers’ markets in the country. If you’re willing to spend a little extra on your home (and relinquish some space) than New York is the place to do it. The return on investment can be massive if you buy in an up and coming neighborhood like Ridgewood or Harlem. If you have the chance to buy multiple properties, even better.
4. Philadelphia, PA
Philadelphia is one of the most historic cities in the country, and offers historians, artists and foodies a whole new world. While it may be cold and a little rugged, Philadelphia is also a mecca for artists and musicians, which is all the better for their still affordable housing market, because you’ll never be bored.
5. Chicago, Illinois
Chicago is known for its culture, food, views, and music scene. The windy city is also a great option for those looking to buy a home. The outskirts of Chicago are a good investment as it is a great place to raise a family away from the hustle and bustle of city life. Chicago doesn’t just offer famous deep-dish pizza, delicious craft beer, and a famous philharmonic, it is simply one of the best cities in the country because of how all of these aspects work together.
If you’re looking into buying a home, whether in a metropolis or the suburbs, try home buyers usa as they come highly recommended among many populated cities across the nation.