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Phoenix Neighborhood Named One of Best in US for 1st-Time Homebuyers

If you’re in the market for a new home, now is obviously the time to buy. This monumental decision requires weighing in all the factors. Well don’t look too far because a recent study shows that an upscale Ahwatukee Foothills neighborhood of our very own Phoenix, Arizona is the second-best place in the US for first-time homebuyers.

cyberhomes

Photo: Ahwatukee Homes for sale on Cyberhomes.com

The study, by real-estate e-commerce Web site Cyberhomes.com, consisted of 7,000 US ZIP codes. The site looked at median home prices and compared them with household incomes. They then weighed in such factors as quality of schools, commute distances and job opportunities.

The city that topped Ahwatukee was Memphis, Tennessee’s 38018 ZIP code.

Cyberhomes General Manager Marty Frame said the common factor to the study’s top five ZIP codes was “sustained quality of living” long before home prices shot up and then back down because of the current economic status, according the The Arizona Republic.

The study projected Ahwatukee’s median home price in May as $256,500 and its median household income as $148,200, according to The Arizona Republic.

Frame spoke about Ahwatukee’s homeowners as having a “a pride-of-ownership,” according to The Arizona Republic.

The Top three location was awarded to Lincoln, Nebraska; Top four to Lubbock, Texas and Top 5 to Richmond, Virgina.

“[Cyberhomes] used a formula to determine the monthly house payment a typical resident could afford, based on a 30-year, fixed-rate mortgage at 5 percent interest with a 20 percent down payment. It indicated that the median Ahwatukee household could afford payments on a home valued at more than three times the median price,” according to The Arizona Republic.

About Cyberhomes: valuations give you access to most of the same information that real estate professionals use to evaluate homes. From Fidelity National Financial, the leader in property information, services, and technology for Realtors appraisers, and lenders, you get the power of detailed, proprietary analysis of your home and community. Whether you own your place, are thinking of buying, or even just looking around, you can explore data ranging from property facts, value estimates, and a variety of important indicators of local and national changes in the housing market.

The Cyberhomes database includes more than 100 million property, ownership, sales, and mortgage records, covering more than 85% of the United States population. It updates more than 575,000 new ownership records every month, verified from the original source, and our data is also enhanced with more than ten years of appraisals and appraisal review information.

5 Comments

  • jen says:

    REALLLLLLLY weird that ahwatukee was topped by memphis……..

  • Farah says:

    Wow that’s impressive! Ahwatukee does have some great neighborhoods and is a good place to raise a young family.

  • Meghan says:

    As someone that is looking to purchase their first home, that is awesome to know.

  • Bev says:

    The entry of the first home is stunning.

  • Wes says:

    The two homes pictured would be spectacular first homes. How much are they selling for? Ahwatukee is a great area for a young family. The whole area has a community feel that other parts of the Valley seem to lack.

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