Which cities are the best real estate markets and which are the worst? If you're a real estate agent, real estate investor, homeowner, homebuyer, or considering moving, you'll likely want to know the answer to that question. And lucky for you, we have a good look at the best and worst markets for real estate, courtesy of WalletHub.
The site compared 300 cities across two key dimensions, “Real-Estate Market” and “Affordability & Economic Environment,” and evaluated those dimensions using 23 relevant metrics, including home price appreciation, housing affordability, population growth and a number of other factors.
In the end, the study found that the the best overall city to purchase a house is Boise, Idaho. Also ranked as the No. 1 mid-sized city to live in, Boise also ranks No. 1 in the real estate market, and No. 38 for affordability and economic environment rank.
On the other end of the list was Newark, New Jersey. The town is ranked No. 300 in the real estate market and No. 299 for its affordability and economic environment rank.
The top five cities with the lowest percent of homes with negative equity come from California, yet the top five cities with the highest home price as percent of income also come from California.
Tied ranked first for lowest percent of delinquent mortgage holders were three Colorado towns, two California towns and one Washington town. Conversely tied at last place are five towns in New England.
"The healthiest housing markets for families in general mean finding the right balance between economic opportunity and affordability as well as healthy and safe living environment for kids with appropriate educational and recreational opportunities. The top 5 indications are, economic growth, housing affordability, mortgage rate, quality of schools, and crime," said Chair of the Finance Department of the College of New Jersey, Seung Hee Choi.
To see the full list, check out the map below.