Atlanta’s real estate scene continues to thrive, but it’s apparently still a good fit for first-time homebuyers.
As in, top three good, among major cites.
According to “2019’s Best & Worst Cities for First-Time Homebuyers,” an analysis by WalletHub, the City of Atlanta ranks No. 25 overall and No. 3 among large cities out of 300 cities studied.
When conducting the study, WalletHub looked at 27 metrics across three key dimensions: affordability, real estate market, and quality of life.
Sample metrics ranged from housing affordability, cost of living, and real estate tax rate to rent-to-price ratio, median home price appreciation, and property-crime rate.
Digging deeper, the study found Atlanta ranked 103rd for housing affordability, 131st for cost of living, 115th for rent-to-price ratio, 137th for foreclosure rate, and 18th for total home-energy cost.
In comparison with other large cities (more than 300,000 population), Atlanta ranked third, behind Tampa and Colorado Springs, respectively.
Interestingly enough, Columbus, Georgia ranked No. 27 (No. 67 overall) and Augusta No. 62 (No. 183 overall) for mid-size cities (150,000 to 300,000).
For small cities (fewer than 150,000), Roswell ranked No. 14 (No. 31 overall), Savannah No. 38 (No. 91 overall), Sandy Springs No. 47 (No. 109 overall), and Athens No. 74 (No. 155 overall).
Given a recent RE/MAX report stating the median sales price of homes in the City of Atlanta has spiked by 16 percent, outpacing the national average by four times, it’s surprising first-time homebuyers can continue to buy in Atlanta.