Buying isn’t necessarily better than renting, and that’s especially true in certain states. Bankrate put together a list of the best and worst states for first-time buyers.




To measure their rankings, they focused on five factors: housing affordability, job market for young adults, housing market tightness, credit availability and homeownership rates. Unsurprisingly, some of the worst states for buying your first home are the most expensive states for buying a home, period: California, Hawaii, and New York. Also on the “worst” list were Louisiana and Mississippi, though. While housing may be affordable in these states, credit availability and the job market scored low.


Among the top states for first-time homebuyers were Iowa, Utah, Minnesota, and Kansas. You can see the top ten in the graphic above, then head to the link below for the full methodology and more details by state.

We pick the toughest and easiest states for first-time homebuyers | Bankrate