Michigan City Among the 10 Best Markets for First-Time Home Buyers

Making the move from renter to homeowner is a huge leap and one Michigan city has landed on the list of the 10 best markets for first-time homebuyers.

With more companies offering remote-work options, living where you want to live as opposed to living where you work can open up possibilities for first-time homebuyers.

Realtor.com crunched the numbers, focusing on markets that have fewer than 100,000 residents and are within a reasonable driving distance of a major metropolitan area. Strong job markets are part of the equation as well as easy access to entertainment and activities.

If that sound like a suburb of Metro Detroit to you, you're absolutely right.

Ferndale, Michigan makes the top 10 list of best markets for first-time home buyers, coming in at number nine on the list.

What Makes Ferndale So Special?

According to National Mortgage News, Ferndale has a "neighborly, small-town feel but it also has the big city, big town amenities, and conveniences."

It's about a 10-minute drive from downtown Detroit and as for home prices, the city boasts a mix of homes at different price points. The website says first-time homebuyers can find the best of both worlds because "you can have really affordable houses on one street, and the next luxurious [homes].

Here are the top 10 best cities for first-time homebuyers, ranked by Realtor.com:

1. Magna, Utah
2. Chalco, Nebraska
3. Mauldin, South Carolina
4. Beech Grove, Indiana
5. Portsmouth, Virginia
6. Cottage Grove, Wisconsin
7. Grimes, Iowa
8. Kuna, Idaho
9. Ferndale, Michigan
10. Maitland, Florida

More about each city can be found on National Mortgage News.