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Salt Lake City ranks in middle for first-time home affordability, study shows

Posted at 5:18 PM, Jun 13, 2022
and last updated 2022-06-13 19:18:30-04

SALT LAKE CITY — A new study from Bankrate.com shows Salt Lake City is the 20th best metro area in the United States for first-time homebuyers.

Among the criteria the site used to evaluate the markets in the country's 50 biggest cities, Salt Lake had the best job market, but scored 32nd in home affordability and 38th in terms of resident safety, based on FBI crime numbers.

The best place for a new home-buyer: Pittsburgh, which the study says is a safe, modern city with the most affordable homes among big cities with a median price of $169,000.

The worst city? Los Angeles where the median home price is $860,000, while median household earnings are average among big cities at $81,000.