Posted 02/22/2018

by Aly J. Yale

Aly J. Yale is a mortgage and real estate writer based in Houston. Connect with her at AlyJYale.com or on Twitter

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Should you buy a home in a state capital? Be choosy if you do

buy a home

Aly J. Yale

The Mortgage Reports Contributor

All 50 state capitals ranked

State capitals are some of the nation’s biggest and most bustling cities. But how many are actually good places to put down roots and buy a home? According to a new ranking by WalletHub, only a few.

Verify your new rate (Jun 17th, 2018)

Superb state capitals

WalletHub compared all 50 state capitals, taking into account their economies, housing affordability, healthcare quality, educational systems and more, and ranked each based on the quality of life.

Priced out of the city? Consider suburban living

The result? Austin, Texas, came in as the single-best state capital in the entire country.

According to the ranking, the Lone Star State’s capital came highly rated in all categories, even ranking No. 2 for its quality of education and health. The city also claimed the second-highest median household income, tied for first for most local attractions and took second place in the least number of premature deaths.

How much you need to make to buy a home in 12 major U.S. cities

Madison, Wisconsin, took the No. 2 spot, while Boise, Idaho, claimed No. 3. Lincoln, Nebraska, and Bismarck, North Dakota, rounded out the top five. Bismarck also claimed the lowest unemployment rate in the country with 1.7 percent, while Madison had the highest share of adults with at least a bachelor’s degree at 56.3 percent.

Verify your new rate (Jun 17th, 2018)

The worst capitals to live in

Trenton, New Jersey, ranked dead-last on WalletHub’s list, as well as in the economic health category. Trenton also claimed the lowest share of adults with at least a bachelor’s degree. Only 11.9 percent of adult residents 25 and older hold a college degree.

Also at the bottom were Hartford, Connecticut; Jackson, Mississippi; Montgomery, Alabama; and Providence, Rhode Island. Hartford has the highest unemployment rate of all the state capitals at 7.8 percent, as well as the lowest median household income at $26,264.

Providence also ranked No. 1 for least affordable housing. Richmond, Virginia, and Denver, Colorado, weren’t far behind.

Buy a home in a state capital

Looking to buy in one of the nation’s top capitals? Shop around and see what mortgage rates you qualify for today.

Verify your new rate (Jun 17th, 2018)

 

Aly J. Yale

The Mortgage Reports Contributor

Aly J. Yale is a mortgage and real estate writer based in Houston. Connect with her at AlyJYale.com or on Twitter

The information contained on The Mortgage Reports website is for informational purposes only and is not an advertisement for products offered by Full Beaker. The views and opinions expressed herein are those of the author and do not reflect the policy or position of Full Beaker, its officers, parent, or affiliates.

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2018 Conforming, FHA, & VA Loan Limits

Mortgage loan limits for every U.S. county, as published by Fannie Mae & Freddie Mac, the Federal Housing Administration (FHA), and the Department of Veterans Affairs (VA)