Even as home prices all throughout North Texas continue to rise, a recent analysis from RealEstate.com is showing DFW is the second best metro in the country when it comes to saving for a down payment.
According to the report, it takes the average DFW first time home buyer about three years and five months to put away enough money for a 20 percent down payment, which was good enough to rank second behind only Chicago.
Steady job growth, a flourishing dining and nightlife scene, and a relatively low cost of living (for now) all help make Dallas an underrated city for young and first-time home buyers, but that could change as popularity for the city continues to grow and more people continue to make the move to North Texas.
Among the worst cities for saving for a down payment are Portland, Oregon and Denver, which take an average time of 13 years and two months and 12 years and five months respectively.
Posted by Kenneth G. Cox on
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