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Detroit named the second-worst city for first-time homebuyers, study finds

Detroit named the second-worst city for first-time homebuyers, study finds
Posted at 8:36 AM, Jul 16, 2018
and last updated 2018-07-16 09:43:42-04

Two Michigan cities were named some of the worst cities in the United States for first-time homebuyers, while another Michigan city was named one of the best, according to a study from WalletHub.

The study found that Detroit was named the second-worst city for first-time homebuyers and Flint the third-worst city. When it came down to their size, Detroit was the worst for large cities and Flint was the second-worst for small cities.

On the other hand, Grand Rapids came in at the fifth-best city for first-time homebuyers, and second for midsize cities. 

Other rankings for cities in Michigan include: Dearborn ranked second for highest median home-price appreciation; Detroit ranked 298th out of 300 for highest real-estate tax and Lansing ranked fifth and Flint ranked second for lowest cost of living. 

WalletHub looked at 27 different indictors of market attractiveness, affordability and quality of life. Detailed in those indicators include cost of living, real estate taxes, property crime rates and more.

To read more, click here.