First-time home buyers must take into account many costs associated with buying a home, such property taxes, routine maintenance, homeowners' association fees and utilities.
But an important and often overlooked consideration is the insurance implications of the big purchase.
In areas where first-time home buyers are flocking, insurance agents are an important resource to assist clients in making sure properties qualify for insurance and providing an estimate of the annual premium.
To determine the attractiveness of first-time home-buyer markets across the United States, WalletHub compared 300 cities of varying sizes across three key dimensions (affordability, real estate market and quality of life) using 19 metrics, such as average cost of homeowners' insurance, real estate taxes and property crime rates.
Here are the top 10 best cities in the United States for first-time home buyers in 2016:
A row of older houses next to a parking lot in downtown Lexington, Kentucky. (Photo: iStock)
10. Lexington, Kentucky
Total score: 62.84.
Affordability: 45.
Real estate market: 57.
Quality of life: 36.
Related: Insurance basics for new homeowners
A view of the Greenfield neighborhood in east Centennial, Colorado, looking toward the southwest. The Front Range of the Rocky Mountains are in the background. (Photo: J. Heft/PC360)
9. Centennial, Colorado
Total score: 62.98.
Affordability: 122.
Real estate market: 33.
Quality of life: 7.
People in the busy downtown area of Lincoln, the capital city of the state of Nebraska. (Photo: iStock)
8. Lincoln, Nebraska
Total score: 63.55.
Affordability: 70.
Real estate market: 43.
Quality of life: 21.
Downtown Boise, Idaho. (Photo: iStock)
7. Boise, Idaho
Total score: 63.73.
Affordability: 3.
Real estate market: 87.
Quality of life: 91.
Snow lies on a statue of Teddy Roosevelt which someone wrapped with a scarf in Longmont, Colorado, prior to an overnight snowstorm. (Photo: Peter M. Fredin/AP Photo)
6. Longmont, Colorado
Total score: 64.11.
Affordability: 145.
Real estate market: 16.
Quality of life: 2.
Houses in northeastern Westminister, Colorado, with the Rocky Mountains in the background. The highest peak on the right side of the picture, underneath the lower of the two clouds, is Longs Peak. (Photo: Wikipedia)
5. Westminister, Colorado
Total score: 64.31.
Affordability: 127.
Real estate market: 14.
Quality of life: 8.
Cedar Rapids, Iowa. (Photo: iStock)
4. Cedar Rapids, Iowa
Total score: 64.44.
Affordability: 17.
Real estate market: 82.
Quality of life: 47.
A sign over Interstate 25 welcomes motorists to Thornton, Colorado. (Billy Hathorn/Wikimedia)
3. Thornton, Colorado
Total score: 65.42.
Affordability: 125.
Real estate market: 22.
Quality of life: 3.
A welcome sign on 10th Street and 59th Avenue in Greeley, Colorado. (Photo: Wikimedia)
2. Greeley, Colorado
Total score: 65.46.
Affordability: 112.
Real estate market: 9.
Quality of life: 5.
Johnson County Community College, top, overlooks homes in Overland Park, Kansas. (Photo: Jim Barcus/AP Photo)
1. Overland Park, Kansas
Total score: 68.49.
Affordability: 58.
Real estate market: 29.
Quality of life: 11.
Keep reading to learn the 10 worst cities in the U.S. for first-time home buyers in 2016:
The Inglewood Oil Field in Inglewood, California, is one of the largest contigous urban oil fields in the United States (Photo: iStock)
10. Inglewood, California
Total score: 39.42.
Affordability: 255.
Real estate market: 278.
Quality of life: 165.
Paterson, New Jersey. (Photo: iStock)
9. Paterson, New Jersey
Total score: 38.99.
Affordability: 242.
Real estate market: 298.
Quality of life: 25.
Brownstones in New York City. (Photo: iStock)
8. New York City
Total score: 38.79.
Affordability: 287.
Real estate market: 125.
Quality of life: 285.
Homes in Miami. (Photo: iStock)
7. Miami
Total score: 38.67.
Affordability: 299.
Real estate market: 242.
Quality of life: 285.
The local high school in Compton, California. (Photo: Wikipedia)
6. Compton, California
Total score: 38.57.
Affordability: 238.
Real estate market: 288.
Quality of life: 218.
Homes and palm trees on Shoreline Drive opposite Shoreline Beach Park in Santa Barbara, California. (Photo: iStock)
5. Santa Barbara, California
Total score: 38.19.
Affordability: 295.
Real estate market: 168.
Quality of life: 187.
An aerial view of downtown Berkely, California. (Photo: iStock)
4. Berkeley, California
Total score: 38.10.
Affordability: 298.
Real estate market: 101.
Quality of life: 261.
The city of Oakland, California. (Photo: iStock)
3. Oakland, California
Total score: 37.06.
Affordability: 281.
Real estate market: 134.
Quality of life: 296.
A residential neighborhood in Miami Beach, Florida. (Photo: iStock)
2. Miami Beach, Florida
Total score: 34.09.
Affordability: 300.
Real estate market: 210.
Quality of life: 267.
Homes in Newark, New Jersey. (Photo: iStock)
1. Newark, New Jersey
Total score: 33.80.
Affordability: 229.
Real estate market: 300.
Quality of life: 274.
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