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Jul 15

The Best American Cities in Which to Buy a Home

As the doom of adulthood looms overhead, young Americans all across the country are considering, many for the first time in their responsibility-laden lives, the spook that is the housing market. Paying for cars, scouting out insurance companies and filing for taxes all signify that true maturity – in theory – has been reached, yet no purchase, according to the experts at York Howell, a law firm dedicated to proper estate planning, will likely amount to the importance of purchasing that first home.

Over the last several years, housing prices and mortgage rates were extremely low which meant, unfortunately for all little fish in America’s socioeconomic pond, that big time investors devoured properties left and right while others could only watch from the sidelines. Recently, prices and rates have began to climb, once again, signifying that it’s time for the rest of us to throw our proverbial hats in the ring. Now the real question: Where’s the smartest most effective place to set up shop as a homeowner?

Investors in 2014 should be most interested in cities with low housing prices that have been primed for growth. Generally speaking, the cities with the most sound of housing markets have steadily increasing populations, relatively low-cost homes and a stable, local economy with extremely low unemployment rates.

“We are at a stage in the economic cycle where job growth – and demand for housing – is accelerating in some markets,” states Ingo Winzer, creator of Local Market Monitor and a whiz kid of housing market trends. “The types of jobs created are often lower-paying, most suitable for renters, younger people who are willing to move from somewhere else and who don’t want to own a house right now but might have a young family and would like to rent one.”

As prideful as the state of Texas might be, her housing market couldn’t be more secure for buyers. According to Forbes.com, the top two cities in which to purchase a house as of 2014 are Fort Worth, Texas and Dallas, Texas. Both locations offer homes with reasonable prices for middle-class Americans ranging from $168,383 to $180,645. Rounding out the top three is Charlotte, North Carolina.

Offering a few final words of counsel for potential home owners, says Winzer, “I particularly like the investment markets in Texas and Oklahoma, with their low unemployment rates and ability to profit for years from new shale oil and gas development.”

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