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Business Insider
3 minutes ago
- Business
- Business Insider
The 10 best cities for first-time homebuyers — and 10 that are the worst
WalletHub ranked 300 US cities to reveal the best and worst places for first-time homebuyers. Cities were scored on 22 factors, from housing costs and weather to crime rates and school quality. Most top cities for first-time buyers are in Florida, while most of the worst are in California. Data from the National Association of Realtors (NAR) shows there are fewer first-time homebuyers than ever in the market. The market share of first-time homebuyers decreased from 32% in 2023 to 24% in 2024 — the lowest share since NAR began tracking in 1981. It's also taking longer for Americans to secure their first home. The median age of a first-time homebuyer increased from 35 in 2023 to 38 in 2024. Still, it's not impossible to buy for the first time, and some cities have better conditions than others. The personal-finance website WalletHub analyzed 300 US cities of all sizes across 22 metrics, grouped into three key categories: affordability, the local real estate market, and quality of life. Factoring in elements like housing costs, weather, crime rates, and school quality, the cities were ranked based on how well they support first-time homebuyers. "Buying a home for the first time is a very stressful and difficult process, especially when housing prices are through the roof and interest rates have risen sharply in the past few years," WalletHub Analyst Chip Lupo said. "The best cities for first-time home buyers not only are affordable both in terms of buying a house and living there afterward, but they also have a lot of housing choices as well as low crime rates and good schools." According to WalletHub, six of the best 10 cities for first-time homebuyers are in Florida, while all but one are in the South. California garnered the most cities at the bottom of the list. Here are the 10 best cities for first-time homebuyers and the 10 worst, according to WalletHub. 9. Lakeland, Florida Population: 124,990Median household income: $60,947Median home-sale price: $315,000Real estate market rank: 9Affordability rank: 139Quality of life rank: 15 8. Orlando Population: 334,854Median household income: $69,268Median home-sale price: $403,500Real estate market rank: 7Affordability rank: 159Quality of life rank: 17 6. Gilbert, Arizona Population: 288,790Median household income: $121,351Median home-sale price: 593,500Real estate market rank: 17Affordability rank: 34Quality of life rank: 85 5. Huntsville, Alabama Population: 230,402Median household income: $70,778Median home-sale price: $343,000Real estate market rank: 35Affordability rank: 36Quality of life rank: 43 4. Surprise, Arizona Population: 167,564Median household income: $93,371Median home-sale price: $435,000Real estate market rank:Affordability rank: 1Quality of life rank: 207 10. San Mateo, California Population: 103,006Median household income: $152,669Median home-sale price: $1,725,000Real estate market rank: 261Affordability rank: 287Quality of life rank: 245 9. New Orleans Population: 362,701Median household income: $55,339Median home-sale price: $385,000Real estate market rank: 195Affordability rank: 213Quality of life rank: 295 Population: 289,600Median household income: $98,152Median home-sale price: $425,000Real estate market rank: 259Affordability rank: 152Quality of life rank: 298 7. Costa Mesa, California Population: 109,131Median household income: $110,073Median home-sale price: $1,640,000Real estate market rank: 230Affordability rank: 297Quality of life rank: 188 6. Los Angeles Population: 3,878,704Median household income: $80,366Median home-sale price: $1,124,000Real estate market rank: 255Affordability rank: 294Quality of life rank: 246 3. Oakland, California Population: 443,554Median household income: $97,369Median home-sale price: $868,000Real estate market rank: 275Affordability rank: 231Quality of life rank: 300
Newsweek
4 hours ago
- Business
- Newsweek
Map Shows Cities Hit by the Highest—And Lowest—Inflation
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. As the national inflation rate ticks up to 2.7 percent—its highest point since February—WalletHub's July 2025 analysis of inflation trends across 23 major U.S. cities highlights stark regional differences in cost-of-living pressures. How It Was Calculated WalletHub analyzed the effect of inflation across the United States by examining 23 major metropolitan areas using two key Consumer Price Index (CPI) metrics. The study compared the most recent CPI data available from the Bureau of Labor Statistics with figures from two months earlier and one year ago, providing a view of both short-term and long-term inflation trends. What To Know While some cities are experiencing a resurgence of price increases, others are enjoying notable economic stability, according to WalletHub's report. The Seattle-Tacoma-Bellevue area currently faces the steepest short-term inflation spike among all surveyed metro areas, with a 1.4 percent rise over the past two months. It also saw a 2.7 percent year-over-year increase. Boston and St. Louis followed closely with 1.1 percent increases over the short term. San Diego experienced the highest year-over-year inflation rate at 3.8 percent, followed by Chicago and New York, each with a 3.5 percent increase. At the other end of the spectrum, Phoenix, Arizona, experienced the least inflation growth, with a 0.2 percent increase compared to one year ago and over the past two months. Dallas and Anchorage also ranked among the cities with the lowest inflation, with two-month price changes of just 0.1 percent. What People Are Saying Sergey Sarkisyan, an assistant professor of Finance at Fisher College of Business, The Ohio State University, said in the report: "Consumer demand and spending are usually the main factors when we talk about recent inflation. Opening after COVID and excessive spending following stimulus payments contributed to inflation worldwide." He added: "The current inflation rate is slightly higher than the target of 2 percent, but it continues declining. All else equal, current interest rates should reduce inflation further, but other factors, such as tax and tariff policy, can further affect inflation forecasts." Huiying Chen, an associate professor in the University of Central Oklahoma's Department of Economics, said in the report: "Higher tariff expectations, trade wars, conflicts, the gradual adjustment of supply chain worldwide, and other economic uncertainty contribute to inflationary pressure. In the last few months, grocery prices, housing, people and businesses' expectations on higher inflation due to the potential higher tariffs and import prices drive up the overall price level." What Happens Next WalletHub periodically releases updates for its "Changes in Inflation by City" report. Meanwhile, Newsweek also recently mapped America's most and least stressed cities, based on a separate WalletHub report. This analysis, which ranked cities based on four main factors—Work Stress, Financial Stress, Family Stress, and Health & Safety Stress—found that Detroit ranked as the most stressed city in the 2025 study.
New York Post
6 hours ago
- Business
- New York Post
New map reveals the most financially distressed states in the US — see which was dubbed most ‘desperate'
The state of their bank accounts is not good. The US has been plagued by economic uncertainty of late, but some regions were definitely hit harder than others. Personal finance company WalletHub recently unveiled a map showing the states with the most people suffering from financial distress — finding that Texas topped the list in this regard. That's right, despite being the largest economy in the world — with a GDP bigger than most countries — the Lone Star State has been in dire straits financially due to its citizens' low credit scores, deferred payments and bankruptcy filings, per the survey. Advertisement Meanwhile, New York came in at an unimpressive 19th place, proving that Empire Staters are floundering financially despite the Big Apple boasting the most billionaires on Earth. 4 'Measuring the share of residents in financial distress is a good way to take the pulse of a state and see whether people are generally thriving or having trouble making ends meet,' said WalletHub analyst Chip Lupo. 'When you combine data about people delaying payments with other metrics like bankruptcy filings and credit score changes, it paints a good picture of the overall economic trends of a state.' Yakobchuk Olena – WalletHub defined financial distress as having a credit account that is in forbearance, meaning 'the account holder is temporarily allowed to not make payments due to financial difficulty,' per the site. Advertisement This trend has unfortunately been on the rise as the country faces skyrocketing inflation — the effects of which have been exacerbated by tariffs and other government expenditures — fluctuating unemployment, natural disasters and other factors that have made it harder for Americans to pay their bills. To determine which regions were the most impacted, WalletHub compared the 50 states across key metrics, including average credit score, the change in the number of bankruptcy filings over the last year, and the percentage of people with accounts in distress. 4 Big Bend National Park in Texas, whose citizens were the most financial distressed, per the survey. Zack Frank – They also factored in the frequency of searches involving the terms while creating the map, which was based on data from the Administrative Office of the U.S. Courts, credit reporting firm TransUnion, Google Trends, and its own database. Advertisement WalletHub then calculated the 'weighted average across all metrics to calculate an overall score for each state and used the resulting scores to rank-order the states.' 'Measuring the share of residents in financial distress is a good way to take the pulse of a state and see whether people are generally thriving or having trouble making ends meet,' said WalletHub analyst Chip Lupo. 'When you combine data about people delaying payments with other metrics like bankruptcy filings and credit score changes, it paints a good picture of the overall economic trends of a state.' 4 Waikiki Beach and Diamond Head on Oahu, Hawaii, whose residents boasted the lowest levels of financial distress. tomas del amo – Texas placed first in the economic hardship Olympiad. Advertisement The Southwestern hub's struggles were evident in the fact that its citizens boasted the ninth-lowest average credit score in first quarter of 2025, the third highest number of accounts with deferred payments and the seventh highest share of people with distressed accounts — at 7.1%. Texans also Google the terms 'debt' and 'loans' at an alarming clip, illustrating many people are 'desperate to borrow, despite already owing money,' per the site. 4 New York placed 19th when it came to the number of citizens with financial distress. Nicholas J. Klein – Clocking in second was Florida with the 'Panhandler' state boasting the second-highest increase in the percentage of people with distressed accounts from March 2024 to March 2024 — at nearly 23%. It also had sixth-highest overall share of people with accounts in distress, at 7.3%, redefining the term 'tropical depression.' Meanwhile, rounding out the top three were Louisiana, Nevada and South Carolina. Here are the ten states with the most people in financial distress Texas Florida Louisiana Nevada South Carolina Oklahoma North Carolina Mississippi Kentucky Alabama Thankfully, not all of the country was embroiled in as much economic turmoil. Advertisement The states with the lowest levels of financial distress were Hawaii, Vermont, and Alaska while New Jersey placed an admirable 7th place in this regard. Here are the 10 states with the lowest levels of financial distress
Newsweek
10 hours ago
- Business
- Newsweek
Map Shows Which States Are Most 'Financially Distressed'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Newly published data from personal finance website WalletHub sheds light on how Americans are coping with financial pressures. By analyzing each state across several metrics, WalletHub created a ranking of states based on their levels of "financial distress," incorporating factors such as bankruptcy rates, average credit scores, and the frequency with which residents search distress-indicating terms like "debt" and "loans." Why It Matters Americans have faced several economic headwinds in recent years, including rising living costs, a precarious job market, and mounting consumer debt, all of which are taking a toll on personal finances. Add to this recent policy changes and the economic uncertainty surrounding tariffs, the effects of which are now beginning to be reflected in inflation data, as well as the sweeping budget package signed into law earlier this month. What To Know WalletHub's rankings and scoring system employed data from the Administrative Office of the U.S. Courts, credit reporting firm TransUnion, Google Trends and its own database. States were analyzed across six key, weighted categories: Credit score (both averages and how these have changed since last year); the share of people with accounts in distress and changes in this since last year; change in the number of bankruptcy filings; as well as the frequency of searches involving the terms "debt" and "loans." The results of its analysis can be seen on the map below, created by Newsweek. According to WalletHub's analysis, Texas is home to the highest number of financially distressed individuals. It notes that this result is somewhat surprising, given that the Lone Star State excels across the most widely recognized indicators of economic success, including gross domestic product (GDP) and business activity. However, Texas's overall score was hurt by the personal finance issues facing many of its residents, as evidenced by low credit scores, as well as high rates and increases in the share of accounts in distress—credit accounts that are in forbearance or have had payments deferred due to financial difficulty. This is in addition to the frequency at which Texans are searching online for "debt" and "loans," which WalletHub said: "shows that many people are desperate to borrow, despite already owing money." Following Texas is Florida, another state with a strong economy, but with a high and growing number of accounts in distress. Louisiana is in third place, which WalletHub attributed, among other factors, to frequent searches for "loans," a "reflection of growing concern about personal finances." The remainder of the states rounding out WalletHub's top 10 are: 4. Nevada 5. South Carolina 6. Oklahoma 7. North Carolina 8. Mississippi 9. Kentucky 10. Alabama On the other end of the scale, residents of Hawaii, Alaska and Vermont are spared from financial distress, with low scores and favorable rankings across most categories. What People Are Saying WalletHub analyst Chip Lupo: "Measuring the share of residents in financial distress is a good way to take the pulse of a state and see whether people are generally thriving or having trouble making ends meet. When you combine data about people delaying payments with other metrics like bankruptcy filings and credit score changes, it paints a good picture of the overall economic trends of a state."
Yahoo
2 days ago
- Business
- Yahoo
How much does child care cost in Florida? This list ranks Florida among most expensive states
Although it's an unavoidable cost for parents, child care in the U.S. usually comes with a hefty price tag. According to a recent study from personal finance company WalletHub, Florida ranks in the top 15 most-expensive states when it comes to child care costs in 2025. 'A married couple could spend over 13% of their income on child care, while a single parent could have to shell out roughly 51%,' WalletHub's study says. 'In fact, both parents are employed in 66.5% of families with children, according to the Bureau of Labor Statistics.' But there are some ways to cut back on the cost of child care. Here's where Florida ranks on WalletHub's list of the most expensive U.S. states for child care, why and some resources that can help cut the cost. 'No mute button for a toddler': How thousands of parents juggle remote work and parenting WalletHub analyzed data from the U.S. Census Bureau and Child Care Aware through June 3, 2025, to find the prices of family-based and center-based child care and adjusted them by the median income. On the rankings list for married couple families, Florida ranked as the 13th most expensive state for child care costs, based on this data. The most expensive state was New York, and the least costly was South Dakota. According to the study, around eight to 10% of a married couple's (with children) average income in Florida goes toward child care costs. For context, the same list says married couples with children in New York spend around 11 to 12% of their average income on child care. Florida ranked a little better on WalletHub's rankings list for single-parent households, placing in 35th, with single parents typically spending around 24 to 28% of their average income on child care. Although Florida's ranking on this list is significantly better compared to other states, single parents still pay much more for child care than married-couple households. The most expensive state on the single-parent rankings list was Washington, D.C., where single parents typically spend 44% to about 51% of their average income on child care. Here's WalletHub's top 15 most expensive states for child care in 2025: New York New Mexico Washington Oregon Vermont California Rhode Island Hawaii Colorado Massachusetts Nevada Illinois Florida Minnesota Virginia The cost of child care depends on the age of your children and whether you choose in-home or center-based care. According to Winnie, an online marketplace for child care, the average monthly cost of child care in Florida ranges from around $700 to $1,000 a month, depending on whether you choose in-home or center-based child care. 'The average cost of in-home childcare per month in Florida is $700. Parents of infants pay even more, with an average monthly cost of $740 per month (that's close to $9,000 a year) while parents of four-year-olds pay an average of $650 per month,' Winnie says. 'The cost for center-based childcare increases to an average of $1,000 per month for infant care and close to $800 per month for preschoolers.' Although the cost of high-quality early education is out of reach for many Florida families, there are some subsidized help options available for low-income households. You can get child care at a discount, depending on your needs, from a variety of options available to help qualifying families defer the cost of tuition, from county-issued subsidies to free pre-K programs. One of the options available for Florida families is the Florida Department of Education's School Readiness Program, which offers assistance to low-income families for child care. You can find eligibility requirements and apply for the program by visiting your county's early learning coalition website. Florida also has a free, voluntary pre-K program and was one of the first states to offer it. To qualify, children must be 4 years old on or before Sept. 1 of the upcoming school year. Applications to Florida's voluntary prekindergarten (VPK) Education Program are accessible on the state's Division of Early Learning website. There are also federally-funded programs that qualifying low-income families can use to sign up for free child care: Head Start and Early Head Start. Depending on where you live and how many programs are available, there may be a waitlist. Here are some other possible ways to save on child care, as suggested by Winnie: Sibling discounts: Some programs offer discounts if a family has more than one child enrolled in the program. Military discounts: Military families are typically eligible for discounts and subsidies and sometimes have access to programs made specifically for serving the children of military families. Paying in full, instead of month-to-month: Some child care providers offer discounts if tuition is paid up-front, in full. Working for the program your child attends: Many child care providers offer discounted tuition for the children of employees. If you're an educator looking for a job and child care for your kids, working at the same program your children attend could help you save. This article originally appeared on Florida Today: Child care costs in Florida ranks state top 15 most expensive on list
