It seems Dallas has a whole lot of work to do to make itself more livable for renters and first-time homebuyers, at least according to a couple of recent analyses surveying the national housing market.
Obviously, the issue of affordability has dogged the city for quite some time now, but Dallas isn’t alone on that front. There’s a nationwide housing shortage that developers and officials from the local to the federal level are trying to solve by increasing supply. Nevertheless, from a market analyst’s perspective, the Big D is a lot less desirable than a surprising number of cities.
First-Time Homebuyers Have Their Work Cut Out for Them
WalletHub recently dropped a ranking of the best and worst cities for first-time homebuyers, and while it’s probably no surprise that Dallas didn’t come out on top, placing 237 out of 300 is not what you want to see.
“This reflects major challenges encompassing affordability, housing availability, and quality of life,” WalletHub writer and analyst Chip Lupo told CandysDirt.com. “The city has one of the worst real estate tax rates (252nd) and very low millennial homeownership (261st), which is a sign of significant barriers for first-time homebuyers.”…