Yuma named eighth affordable city for home buyers
YUMA, Ariz. (KYMA, KECY) - According to the website WalletHub, Yuma has ranked as the eighth most affordable city for home buyers.
The website determined this by comparing 300 U.S. cities across ten key metrics:
- Housing Affordability
- Maintenance Affordability
- Average Cost of Homeowner's Insurance
- Cost of Living
- Cost per Square Foot
- Real-Estate Tax Rate
- Rent-To-Price Ratio
- Median Home-Price Appreciation
- Quarterly Active Listings per Capita
- Vacancy Rate
WalletHub also said that prices of homes have surged during the COVID-19 pandemic with the median sales price skyrocketing from $313,000 in the first quarter of 2019 to $436,800 in the first quarter of 2023.
WalletHub further said that "while prices maybe starting to lower in some parts of the country this year, interest rates have rapidly climbed."
In addition, Yuma was ranked third for small cities with a score of 69.45, according to data collected by WalletHub.
