Buying a home and raising a family in the U.S. doesn't have to cost a fortune, according to a new study.
The personal finance website SmartAsset studied data for 100 U.S. cities and identified the best places for buying a family home.
In the final analysis, it depends on where your clients look. The best bargains were found to be out West, while big cities turned out to be the worst locations for families looking to plant roots.
"Big cities don’t tend to do well on this list," the report said. "New York City, Philadelphia and Chicago are all in the bottom 15. The relatively high cost of living, including housing costs, makes it more difficult to find worthwhile housing with enough room in these cities."
Meanwhile, of the top 11 cities in the ranking, nine are located in Western states.
SmartAsset analyzed changes in home values and rents, the percentage of homeowners paying more than 30% of their income on housing costs, housing costs as a percentage of household income, the percentage of homes with at least two bedrooms and property tax rates.
Two cities tied for seventh place and three tied for ninth place.
Here, in ascending order, are SmartAsset’s top 11 best cities to buy a family home:
9. Scottsdale, Ariz. (tie)
Scottsdale is home to architect Frank Lloyd Wright’s former studio, and offers a blend of desert living mixed with urban sophistication. About 90% of Scottsdale’s homes have at least two bedrooms, and the average property tax rate is 0.51%.
9. Henderson, Nev. (tie)
Tour or shop vintage homes for sale in Henderson, located 16 miles southeast of Las Vegas, or shop new builds. Most homes in the city (93%) have at least two bedrooms, and the average property tax rate is 0.60%—the 15th lowest in the survey. Henderson is also a popular retirement destination for empty nesters.
9. Nashville, Tenn. (tie)
Nicknamed “Music City U.S.A.” back in 1950, Nashville is the easternmost city of this survey and the capitol of Tennessee. One-fifth (21%) of Nashville homeowners pay more than 30% of their income on housing costs, and the average property tax rate is 0.72%.
7. Glendale, Ariz. (tie)
Located about nine miles northwest of Phoenix, Glendale has a population of 246,709. From 2013 to 2017, home values increased by 55%, but only about 20% of residents pay more than 30% of their income on housing costs. The average property tax rate is 0.62%.
7. Aurora, Colo. (tie)
Originally a military town, Aurora leads the nation in redevelopment of new housing in and around former airfields, according to the state website. As a result, says SmartAsset, home values have spiked 70% from 2013 to 2017.
6. Mesa, Ariz.
Mesa is Arizona’s third-largest city, where visitors can see Native American archeological finds and dinosaur skeletons at the state’s museum of natural history. Mesa has an average property tax rate of just 0.54%, the eighth-lowest rate among cities studied.
5. Plano, Texas
Suburban Plano is a 15-minute drive from Dallas and is home to many corporate headquarters. Median housing costs in Plano will cost just 18% of the median salary. However, property tax rates are relatively high at 1.62%.
4. Gilbert, Ariz.
Once known as the “Hay Capitol of the World,” Gilbert has quickly transformed into an economically-diverse suburban center near Phoenix. Almost all homes (95%) have two or more bedrooms. At 0.60%, the city also has the 12th-lowest average property tax rate of the study.
3. Chandler, Ariz.
Located southeast of Phoenix, Chandler is home to a multitude of parks featuring such attractions as a train ride and a solar system walk. Just 19% of homeowners are burdened by housing costs that exceed 30% of their income. Home values rose only 26% between 2013 and 2017.
2. Reno, Nev.
Nicknamed “The Biggest Little City in the World,” Reno is famous for its resort hotels and gambling industry. It has an effective property tax rate of 0.53%, the sixth-lowest of the study, and the third-highest home value change between 2013 and 2017, at 64%.
1. Fremont, Calif.
Located in California’s San Francisco Bay area, Fremont offers affordable family housing options popular with workers employed in nearby Silicon Valley. Home values have increased 47% from 2013 to 2017, and SmartAsset says the housing stock for families is robust, with 88% having at least two bedrooms.
The full report can be viewed here.
