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California Tuffest for First Time Home Buyers

Date : Mar 27, 2017 Category : Real Estate News
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California ranks as the toughest state for first-time homebuyers for several reasons, including low home affordability (#49), availability (#49) and U-35 homeownership percentage (#49), as well as high millennial unemployment (#41).

Iowa, on the other hand, is the easiest state due in large part to the most affordable home prices in the country. The Hawkeye State also graded highly for U-35 homeownership (#2) and millennial employment (#10). Utah, Minnesota, Kansas and Missouri comprise the rest of the five easiest states for first-time homebuyers.

 

 

Rank State Total score Housing affordability Job market for young adults Housing market tightness Credit availability Homeownership among millennials
1 Iowa 40.32 10.00 7.55 5.60 7.53 9.64
2 Utah 40.16 6.55 9.33 5.88 8.85 9.55
3 Minnesota 39.60 8.66 7.85 3.75 9.34 10.00
4 Kansas 38.11 8.18 7.67 7.02 8.33 6.91
5 Missouri 38.10 8.71 6.01 8.26 7.67 7.45
6 North Dakota 37.66 8.39 10.00 4.14 8.31 6.82
7 South Dakota 37.50 8.21 9.48 2.31 8.73 8.77
8 Wyoming 36.91 7.94 7.70 4.59 8.12 8.57
9 Vermont 36.34 8.51 7.82 8.55 6.00 5.46
10 Nebraska 36.33 9.68 8.71 1.65 8.95 7.33
11 Idaho 36.32 6.78 6.26 7.90 7.73 7.66
12 Indiana 35.92 9.23 4.29 6.65 7.56 8.19
13 Montana 35.51 5.86 6.66 9.11 8.19 5.69
14 Oklahoma 35.18 9.41 6.07 7.07 5.60 7.02
15 Alaska 34.70 7.22 3.59 8.12 10.00 5.77
16 New Hampshire 34.68 8.42 8.65 4.36 6.11 7.14
17 Michigan 34.61 9.65 3.13 7.24 6.19 8.40
18 Wisconsin 34.51 9.73 4.85 6.47 6.79 6.66
19 Ohio 34.10 9.95 5.31 5.25 7.32 6.27
20 Pennsylvania 34.05 9.28 4.02 6.04 7.48 7.23
21 Illinois 33.78 9.08 4.23 7.23 6.91 6.33
22 Delaware 33.52 7.06 4.48 6.92 7.33 7.73
23 Arkansas 33.31 8.64 5.46 8.81 3.89 6.51
24 Arizona 33.25 6.52 4.85 9.31 7.98 4.59
25 Maryland 32.52 7.96 5.12 5.08 7.98 6.37
26 Virginia 32.04 7.12 6.13 5.06 8.30 5.43
27 Connecticut 31.88 8.39 2.48 8.30 7.47 5.24
28 Maine 31.80 7.32 3.96 7.74 5.10 7.68
29 Tennessee 30.85 8.16 3.44 7.02 5.87 6.37
30 North Carolina 29.42 7.19 3.68 7.04 6.36 5.14
31 New Jersey 29.11 7.52 4.11 6.24 6.82 4.42
32 Alabama 29.06 8.57 0.00 9.84 3.43 7.22
33 Georgia 28.81 7.81 2.30 7.59 6.30 4.81
34 Kentucky 28.52 9.20 3.65 5.38 2.75 7.54
35 New Mexico 28.28 6.57 1.81 10.00 3.25 6.64
36 Washington 27.66 5.55 5.34 5.00 7.91 3.85
37 Florida 27.42 7.00 4.14 8.79 3.73 3.76
38 Nevada 27.02 6.11 2.67 7.21 7.28 3.76
39 South Carolina 26.55 7.34 2.73 6.47 3.28 6.73
40 West Virginia 26.29 9.86 1.35 6.67 0.00 8.42
41 Massachusetts 26.06 5.99 6.17 1.96 8.65 3.30
42 Oregon 25.76 4.56 5.28 4.83 8.55 2.55
43 Colorado 25.71 5.00 6.93 0.00 8.47 5.31
44 Texas 25.33 6.92 5.95 1.66 6.18 4.62
45 Rhode Island 25.18 7.00 1.84 5.22 7.94 3.17
46 Mississippi 24.56 5.89 2.18 8.19 1.13 7.17
47 Louisiana 23.96 8.11 3.28 3.18 2.69 6.70
48 New York 23.12 6.88 4.29 4.78 5.84 1.33
49 Hawaii 20.16 0.00 7.33 4.59 8.24 0.00
50 California 13.67 1.25 2.76 1.25 7.23 1.17

 


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