Cambridge was ranked the best real-estate market in Massachusetts in a new WalletHub study which compared cities around the United States.
“Whether you’re joining the real-estate business or just looking for a place to call home, it’s important to get a handle on the housing markets you’re considering before investing in a property. This year, the housing market is in a unique situation as mortgage rates are only slightly above record lows at a time when many Americans are struggling financially due to the COVID-19 pandemic,” WalletHub wrote. “For those who have extra cash, buying a home now could be a golden opportunity.”
To conduct the study, WalletHub compared 300 cities of varying sizes using 18 key indicators of housing-market attractiveness and economic strength. The data set ranges from median home-price appreciation to job growth.
“If you aim for long-term growth, equity and profit, you’ll need to look beyond tangible factors like square footage and style. Those factors certainly drive up property values. From an investor’s standpoint, though, they hold less significance than historical market trends and the economic health of residents,” the website read.
While Cambridge ranked highest in Massachusetts, only made 78 on the list, ranking 87 in real estate and 124 in affordability and economic environment.
The Massachusetts cities on the list ranked from highest to lowest are:
- Cambridge (Rank: 78)
- Boston (Rank: 154)
- Quincy (Rank: 155)
- Lowell (Rank: 164)
- Worcester (Rank: 227)
- New Bedford (Rank: 231)
- Lynn (Rank: 233)
- Fall River (Rank: 260)
- Brockton (Rank: 266)
- Springfield (Rank: 273)
Seeing that 300 cities were ranked, most of Massachusetts areas ranked in the bottom half on the list.
The top areas on the list are:
- Frisco, TX
- Austin, TX
- Gilbert, AZ
- McKinney, TX
- Denton, TX
The survey also features and “ask the experts” section which answers questions including: “What trends are impacting the housing market in 2021? Will it crash or boom?” and “In evaluating the healthiest housing markets, what are the top five indicators?”
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