"Affordability was an important factor, but it wasn't the only thing we looked at, said Jake Vehige, president of mortgage lending at Neighbors Bank. We focused on places where first-time buyers can afford a home and enjoy a strong quality of life that includes entertainment, reasonable commutes and everyday conveniences. This is proof that you don't have to live in a major coastal metro to live well in 2026."
"Most of the cities are located in the Midwest, Great Lakes and Great Plains regions. Peoria's No. 1 ranking was driven by the lowest combined housing and living costs, along with strong quality-of-life scores. Per Neighbors Bank data, Peoria posted a median home price of $161,868 and a median monthly housing cost of $1,492. Its housing cost as a share of income was 25%."
Neighbors Bank evaluated factors including crime rates, employment conditions, commute times, child care costs, home price appreciation, and access to entertainment and amenities. The top markets for first-time buyers include Peoria, Pittsburgh, Davenport, Rockford, Wichita, Toledo, Lansing, and Wichita Falls, with most cities in the Midwest, Great Lakes, and Great Plains. Peoria led due to the lowest combined housing and living costs, a median home price of $161,868, a median monthly housing cost of $1,492, and housing costs at 25% of income. Markets showed median prices from about $161,900 to roughly $246,900 and housing costs of 25%–34% of income.
Read at www.housingwire.com
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