ICYMI: Newton a Top 10 Place in the U.S. for First-Time Homebuyers: Study

NEWTON, MA – If you're moving out of the city and into the 'burbs, you might not need to look further than Greater Boston.

Website NerdWallet named Newton No. 5 on its "America's Best Places for First-Time Homebuyers" list. It was the only Massachusetts community to crack the top 50.

The site examined the affordability, livability and price stability of various communities, planting Newton in between Frisco, TX and Allen, TX. According to NerdWallet, suburbs dominated the top 10 list, as well as communities with a population between 83,000 and 89,000.

Here's what it had to say about Newton:

Situated less than 10 miles from downtown Boston, Newton’s homes are pricey; the median home price in 2015 was $809,700. But incomes here are also high. The median household income was $126,649, the second-highest of all 448 cities, making mortgage costs 33% of income; this is around the maximum ratio that most financial experts recommend spending on monthly housing costs. Homebuyers in Newton also have access to $39,384 in down payment assistance programs. Additionally, Newton’s unemployment rate of just 2.2% was the fourth-lowest of all cities analyzed.

>>>Click here to see NerdWallet's full list.

Photo Credit: John Phelan (Own work) [CC BY 3.0], via Wikimedia Commons

Story originally published Dec. 13.