With mortgage rates just slightly above record lows, it could be an ideal time for homebuyers eyeing property in the Emerald City. Personal finance website WalletHub has ranked the Seattle real estate market as No. 22 compared to local markets nationwide. Overall, on the list of “Best Places to Buy a House,” Seattle clocked in at No. 18.
WalletHub looked at 300 cities of varying sizes and across 18 key metrics, including median-home appreciation, job growth and affordability. Seattle earned 18th place with a total score of 65.15, on a 100-point scale.
The Seattle suburb of Everett was also recognized in the report as having the fifth-lowest share of seriously underwater mortgages.
Meanwhile, thanks in large part to reasonably priced homes, the city of Frisco, Texas, clinched the coveted top spot with a total score of 75.1. Conversely, Hartford, Connecticut, logged in last place with an overall score of 26.27 and a dire affordability ranking of No. 300.