The site looked at several factors that need to be taken into account when buying a home, like home affordability relative to median income, credit availability, unemployment, market tightness and more, and there’s no doubt young homebuyers have it tough in the Golden State. In fact, California ranks near the bottom of the list in several categories including low home affordability (49), availability (49), under-35 homeownership percentage (49), and high millennial unemployment (41).
Top Ten Worst States For First Time Homebuyers
- California
- Hawaii
- New York
- Louisiana
- Mississippi
- Rhode Island
- Texas
- Colorado
- Oregon
- Massachusetts
On the flipside, Millennials in Iowa likely have the easiest time getting the keys to their first home, especially since it has some of the most affordable home prices in the country. It also ranks high for under-35 homeownership (2) and millennial employment (10).
The Ten Best States For First Time Homebuyers
- Iowa
- Utah
- Minnesota
- Kansas
- Missouri
- North Dakota
- South Dakota
- Wyoming
- Vermont
- Nebraska