DC is the one of the worst cities for first-time homebuyers

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In the latest study, WalletHub looked at 23 factors to gauge a city's attractiveness to first-time homebuyers.

The Washington, D.C. -based financial analyst site ranked 300 cities nationwide on their suitability for first time homebuyers, including 13 cities in Colorado. Santa Barbara also offered least affordable housing options (it was 12.7 times more expensive than Fayetteville) while Sunnyvale, Calif., had both the highest cost-of-living index (2.9 times higher than Laredo) and the lowest rent-to-price ratio (7.3 times lower than Detroit).

Buying a home for the first time is a big milestone in everyone's life, a feeling of independence and growth.

The Lone Star State is a great place for first-time homebuyers to get their feet wet. The number one city is McKinney, TX. Followed by Cary, North Carolina, and Norman, Oklahoma to round out the top five finest markets.

In a bit of silver lining, the study said Honolulu has the lowest national real estate tax rate.


Things are still looking unattractive for the housing market in California.

Of the small cities on the list, Murfreesboro ranks sixth.

Of those measurements, the Springs ranked first when it came to communities with the lowest total home energy costs and fifth in a rating of cities with lowest real estate tax rates.

To view the full list and find out where other cities ranked, clickhere.

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