WASHINGTON -- Tampa is the sixth best city in the nation for first-time homebuyers, and the best LARGE city in the nation, according to a new survey from personal finance site Wallethub.
Wallethub's senior analyst Jill Gonzalez says that has to do with factors such as the real estate market, and the break even horizon for buying as opposed to renting, which is better in Tampa than most other cities. Gonzalez says Tampa is seeing a "huge" share of homes with price cuts. Home ownership rates for millenials are also strong in Tampa.
Tampa shares many factors with other Florida markets, including expected price appreciation in coming years, although Gonzalez expects that to slow down over the next year or so
Gonzalez says taxes also help Florida cities a well as lower home prices. "Usually with low or no income taxes, you see skyrocketing property or sales taxes,a nd that's not the case in Florida, " Gonzalez said. She believes that home appreciation will pick up once travel and tourism are back at full strength.
Other Florida cities' that made the top 100: Coral came in 18th, Orlando 27th, St Petersburg 39th, Palm Bay 44th, Boca Raton 54th, Jacksonville 56th, Lakeland 59th, Sunrise 64th, Clearwater 71st, Port St. Lucie 73rd. Two South Florida cities made the top five for likeliness of home appreciation: Miami Gardens and Sunrise.