Chicago Real Estate

These Midwestern cities are among best housing markets for first-time homebuyers: ranking

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If you are a first-time homebuyer, there are several communities in the Midwest that may provide you with the best-possible homebuying experience.

Financial services company SmartAsset recently ranked 185 metro areas based on a variety of factors, including affordability, competition, and growth potential, among others.

That data, pulled from the U.S. Census Bureau and other sources, was then calculated to provide a picture of which communities were best for first-time homebuyers, and while most of the cities were in the south, there were numerous communities in the Midwest that could appeal to those looking to buy a home.

According to the ranking, St. Joseph, Missouri was tops among Midwest communities, checking in at No. 4. Two Wisconsin communities, Green Bay and Appleton, ranked No. 9 and 11, respectively. Muncie, Indiana was slotted at No. 14.

In Illinois, the best place for first-time homebuyers is in Peoria, which ranked No. 18.

According to SmartAsset, Illinois has plenty of affordable housing markets, but those markets are also extremely competitive, with homes flying off the market and often exceeding their initial asking price, both of which hurt them in the ranking.

Killeen, Wichita Falls, and McAllen, all in Texas, are the top-three, according to the ranking.

Cape Coral, Florida rounded out the top-five.  

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