America's best and worst cities for first-time homebuyers, revealed: Grand Rapids, Michigan ranks best in the nation but San Jose is the worst – again Grand Rapids, Michigan is the best city in the nation for first-time homebuyers because it has a high share of Federal Housing Administration-insured loans that offer low down payment options San Jose, California is the worst city in the country for first-time homebuyers due to its high median home price of $ 1,135,000 – and despite a low foreclosure rate of 1 in every 3,217 homes The worst regions for homebuyers are mostly in the western United States, along with pockets in Florida and the Northeast, where home ownership is often coupled with financial hardship The best cities for first-timers are mostly across the Rust Belt, with exceptions in the South and the Midwest Buying a home for the first time is a landmark moment for many … (more)
