Baton Rouge is ranked No. 7 in the nation for the top 10 cities for first-time homebuyers, according to Realtor.com, the official website of the National Association of Realtors.
While the share of first-time homebuyers has fallen again nationally for the third straight year and is at its lowest point in nearly three decades, the Capital City remains a strong market for those seeking to purchase their first homes, Realtor.com says.
“As a dynamic hub for college students and recent graduates, Baton Rouge’s high mortgage availability offers a unique opportunity to millennials who often cannot afford a down payment to purchase a home, but can afford a monthly payment of $1,400 in rent,” a news release says.
Among all of the markets Realtor.com studies, Baton Rouge has the highest share—52%— of mortgages by homebuyers between ages 25 and 34.
Realtor.com studied the 100 largest U.S. metropolitian areas for mortgage availability, livability, job growth, inventory and affordability.
Portland, Maine, topped the list at the No. 1. Other cities include: Philadelphia (No. 2); St. Louis (No. 3); Allentown, Pennsylvania (No. 4); Albany, New York (No. 5); Harrisburg, Pennsylvania (No. 6); Dayton, Ohio (No. 8); Minneapolis (No. 9); and Virginia Beach, Virginia (No. 10)
