NerdWallet.com took a look at the 10 best cities to own a home. Their criteria in choosing the cities was simple (well, sort of): They looked at cities where homes are available (higher for-sale inventory), where homes are affordable and where there is high-growth opportunity (meaning low unemployment and growing population). Click through the gallery below to see the 10 best cities to own a home.
10 Best Cities to Be a Homeowner
10 Best Cities to Own a Home
Columbus is a great place to settle down and buy a home, with its low unemployment rate and low cost of living. This college town (it’s home to Ohio State University) has a laid-back Midwestern vibe, and the city has world-renowned hospitals (including The Ohio State University Wexner Medical Center) and research centers as well as an up-and-coming dining scene.
Although Denver homes are somewhat costly compared to the other cities on this list, the median income is high enough in this nature-loving city to compensate for the higher cost. Denver, known for its cleanliness, has something for every resident, including great sports teams, food, nearby mountains for hiking and skiing and a great music scene.
More than half of those living in Indianapolis own a home, and the homes themselves are very affordable, particularly when combined with the low cost of living in the city. Indianapolis provides plenty of affordable homes for homebuyers.
Phoenix has a below average cost of living and a moderate median income. The city’s real estate market is very friendly to house-hunting Phoenicians. With plenty of natural beauty at the Grand Canyon and historic trading posts as well as tons of culture at the art museums and theaters, Phoenix provides something for everyone.
Austin, the “Live Music Capitol of the World,” is known for its music festivals such as South by Southwest and Austin City Limits, but the city is great for homebuyers as well as music-lovers. A home is only 7.5 times the median income, and the city’s home values are very likely to appreciate in time, given the city’s low unemployment rate and high growth rate.
Jacksonville has the highest home ownership rate on our list, making it very likely that aspiring homeowners will be able to save up for the home of their dreams in the Sunshine State. Plus, with 20 miles of beaches, the popular Riverside district and plenty of museums, the city is full of things to do.
El Paso’s high homeownership rate and low cost of living make it a great city for those who plan on buying their own home. Aspiring homebuyers would do well to check out The Sun City’s real estate market. With great food, a great climate and many emerging technology and health care research companies, the city’s is a great place to settle down. Other attractions include the Franklin Mountains and the historic missions.
San Antonio’s real estate market is great for homebuyers -- the majority of residents are homeowners, and homes are fairly low-cost in the Alamo City. The city is an excellent location for families as well, with plenty of historical sites and family-friendly such as the Alamo and the River Walk, and a Six Flags and Sea World to boot.
Charlotte’s low cost of living and high home ownership rate make it a much easier city than most in which to purchase a home. This financial center is family-friendly, with excellent schools and large public parks. Charlotteans can benefit from the city’s great real estate offerings for those looking to purchase homes.
Fort Worth has the lowest median home cost on our list, a low unemployment rate and a relatively high population growth rate, making this popular Lone Star State city an ideal place for homebuyers to settle down. The “City of Cowboys and Culture” has a thriving social scene as well, with its own indoor rodeo at The Stockyards, a district containing classic Texas barbecue restaurants and historical landmarks.