Consumer website WalletHub has quantified what local buyers and their Realtors already know: it’s really hard to buy a home in the Greater Boston area. In fact, Boston is the eighth worst large city for first-time buyers, according to WalletHub, behind the usual suspects of New York, Washington and several locations in California.

WalletHub compared 300 cities of varying sizes across 27 indicators of market attractiveness, affordability and quality of life. The data set ranges from cost of living to real-estate taxes to property-crime rate.

Boston ranked number 56 for large cities, eight spots from the bottom. Several other Massachusetts cities also appeared in the rankings, including Springfield at number 45 and Worcester at number 67 (out of 97) for mid-sized cities, and New Bedford (84), Lowell (85), Quincy (87), Lynn (88), Fall River (91), Brockton (96) and Cambridge (112), out of 140 small cities.

The year to date median sale price for a single-family home in Suffolk County was $545,000 at the end of June, according to The Warren Group, publisher of Banker & Tradesman; the median sale price of a condo was $617,500.

Boston 8th Worst Large City for First-Time Homebuyers

by Banker & Tradesman time to read: 1 min
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