- Staff Albany Business Review
A ranking of the 300 largest American cities shows that Albany, New York is among the least attractive locations for first-time home buyers.
According to a study by Wallet Hub, a personal finance site run by Evolution Finance, found that Albany ranks 253rd in the country for first-time home buyers when you factor in median prices, property taxes, appreciation and price-to-rent ratios.
The seven most attractive cities in the country are located in Oklahoma and Texas with Broken Arrow, Oklahoma leading the way.
Two upstate cities ranked well ahead of Albany. Rochester ranked 117th in the U.S. and Buffalo ranked 220th.
The city of Detroit, Michigan, which filed for bankruptcy protection last year, finished one spot ahead of Albany at 252nd.
New York City was 262nd.
Among the most attractive cities for first-time home buyers, 11 of the top 20 are in Texas and a half dozen are in Colorado.
Here’s the complete list:
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