This City In New York State Has The Best Housing Deals
A new study says that this city in New York State has the best bang for your buck when it comes to housing to real estate. If you're looking to buy a house in New York, you may want to consider this city since it's ranked #2 in the United States for getting the best deals on homes.
The unfortunate thing for home buyers is that interest rates have increased. In New York, a 30-year fixed rate is 8.037% and a 15-year fixed rate is 7.09%. According to U.S. News,
Mortgage rates have been historic in their own right during the past few years. The average 30-year fixed rate reached an all-time record low of 2.65% in January 2021 before surging to 7.79% in October 2023, according to Freddie Mac.
Home Buyers Get The Best Bang For Their Buck In This NY City
All Star Home conducted a study about the best cities to buy a home in and one New York city ranked #2 in America.
We wanted to find which parts of the U.S. have the best return on their investment, so we analyzed American Housing Survey data to find the average rating residents attribute to their homes and neighborhoods. We then compared these rankings to the median home value to find the places with the most housing bang for your buck.
The American city with the best bang for buyers' bucks is...
#1 Detroit, Michigan
But, this city in New York State came in second...
#2 Rochester, New York
One city in the state made the list of places where home buyers get the LEAST bang for their buck. Can you guess which city?
Yep, you probably guessed right - New York City - which landed in the #5 spot for the American cities with the least bang for your buck when it comes to buying a home.
The top 5 reasons people dislike their neighborhoods:
5. Nosy Neighbors
4. Rude Neighbors
3. Homes To Close To One Another
2. Noisey Neighbors
1. Weird Neighbors
Small House Going for $1.5 Million in Western New York
Gallery Credit: Zillow, Verax Real Estate LLC 716-866-6284, Alina Pierowicz 716-908-0057