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Is Las Vegas a good place for first-time homebuyers?

Posted: 1:28 PM, Jul 16, 2018
Updated: 2018-07-16 16:28:01-04

Las Vegas' real estate market continues to grow but is it a good place for first-time homebuyers? 

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WalletHub recently released a list looking at the best and worst cities for first-time homebuyers. WalletHub compared 300 cities of varying sizes across 27 key indicators of market attractiveness, affordability and quality of life. Its data includes cost of living to real-estate taxes to property-crime rate.

RELATED: First time homebuyers struggle with low inventory, high prices in Las Vegas

Henderson ranks No. 36 on WalletHub's list while Las Vegas is No. 59. Reno is 87th and North Las Vegas is 105th. 

Now, while Las Vegas and Henderson appear to be lower on the list, they rank higher when compared to cities of similar size. Las Vegas is No. 9 among large cities while Henderson is No. 14 among mid-size cities. Reno and North Las Vegas are 29th and 41st, respectively, among mid-size cities.

RELATED: Southern Nevada housing prices dip slightly in June 

Reno did rank No. 2 for the lowest total home-energy cost. 

WalletHub found that Broken Arrow, Oklahoma; Tampa, Florida; and Centennial, Colorado, were the top three best places for first-time homebuyers while Flint and Detroit, Michigan, and Berkeley, California, were the worst. 

RELATED: Which Las Vegas valley zip codes showed highest gains in home prices?