Top 10 Smartest Cities to Buy a Home
by Tyler on 01/21/10
Everyone wants to obtain the American Dream by starting a family and owing a home. Of course, you have to take into consideration the spread between what you would spend on renting a place and what you would pay for a mortgage. The premium to buy is much lower than the 15 year average in many cities.
Forbes magazine put together a list of what cities are smart buys. They computed the premium and identified locales where economists predict home prices will go up the most over the next 5 years.
These are the Top 10 cities that Forbes chose as the best places to buy right now:
- Boston-Cambridge-Quincy, Mass.
- Charlotte-Gastonia-Concord, N.C.-S.C.
- Chicago-Naperville-Joliet, Ill-Ind-Wis.
- Cincinnati-Middletown, Ohio-Ky.-Ind.
- Denver-Aurora-Broomfield, Colorado
- Minneapolis-St.Paul-Bloomington, Minn-Wis
- Philadelphia-Camden-Wilimington, Pa-N.J.-Del.-Md.
- Portland-Vancouver-Beaverton, Ore-Wash.
- San Francisco-Oakland-Fremont, Calif
- Washington-Arlington-Alexandria, D.C-Va-Md-W.V.
