Buying Your First Home? Consider These Trending Cities

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A major milestone in your financial life is the purchase of your first home. A number of factors, including location, property tax rates, and more, play a factor in the decision.

With that in mind, here are some popular destinations for first-time homebuyers.

Trending Cities for First-Time Homebuyers:

  • Chesapeake, Virginia
    Population: 239,982 (Source: 2019 U.S. Census Bureau)
    Average Home Value: $329,222 (Source: Zillow)
    Effective Property Tax Rate: 0.96% (Source: SmartAsset)
    Average Property Taxes Paid: $2,400 (Source: SmartAsset)
  • Gilbert, Arizona
    Population: 243,254 (Source: 2019 U.S. Census Bureau)
    Average Home Value: $487,381 (Source: Zillow)
    Effective Property Tax Rate: 0.61% (Source: SmartAsset)
    Average Property Taxes Paid: $1,525 (Source: SmartAsset)
  • Lincoln, Nebraska
    Population: 283,839 (Source: 2019 U.S. Census Bureau)
    Average Home Value: $239,826 (Source: Zillow)
    Effective Property Tax Rate: 1.82% (Source: SmartAsset)
    Average Property Taxes Paid: $4,550 (Source: SmartAsset)
  • Boise, Idaho
    Population: 226,115 (Source: 2019 U.S. Census Bureau)
    Average Home Value: $506,564 (Source: Zillow)
    Effective Property Tax Rate: 0.73% (Source: SmartAsset)
    Average Property Taxes Paid: $1,825 (Source: SmartAsset)
  • Cedar Rapids, Iowa
    Population: 132,301 (Source: 2019 U.S. Census Bureau)
    Average Home Value: $164,220 (Source: Zillow)
    Effective Property Tax Rate: 1.7% (Source: SmartAsset)
    Average Property Taxes Paid: $4,475 (Source: SmartAsset)
  • Broken Arrow, Oklahoma
    Population: 108,496 (Source: 2019 U.S. Census Bureau)
    Average Home Value: $213,250 (Source: Zillow)
    Effective Property Tax Rate: 1.13% (Source: SmartAsset)
    Average Property Taxes Paid: $2,825 (Source: SmartAsset)
  • Raleigh, North Carolina
    Population: 464,485 (Source: 2019 U.S. Census Bureau)
    Average Home Value: $360,891 (Source: Zillow)
    Effective Property Tax Rate: 0.88% (Source: SmartAsset)
    Average Property Taxes Paid: $2,200 (Source: SmartAsset)
  • Kenosha, Wisconsin
    Population: 99,688 (Source: 2019 U.S. Census Bureau)
    Average Home Value: $202,621 (Source: Zillow)
    Effective Property Tax Rate: 2.2% (Source: SmartAsset)
    Average Property Taxes Paid: $5,500 (Source: SmartAsset)
  • Colorado Springs, Colorado
    Population: 464,871 (Source: 2019 U.S. Census Bureau)
    Average Home Value: $418,092 (Source: Zillow)
    Effective Property Tax Rate: 0.48% (Source: SmartAsset)
    Average Property Taxes Paid: $1,200 (Source: SmartAsset)
  • San Francisco, California
    Population: 874,961 (Source: 2019 U.S. Census Bureau)
    Average Home Value: $1,502,029 (Source: Zillow)
    Effective Property Tax Rate: 0.64% (Source: SmartAsset)
    Average Property Taxes Paid: $1,600 (Source: SmartAsset)

Buying your first home is a big step - learn more about the potentially helpful implications for your taxes.

Important to remember: "The money you pay for real estate taxes is tax-deductible. While it’s never fun to learn that your property taxes have gone up again, at least you will be able to take some solace in knowing your tax deductions will increase at the same time," according to TurboTax (TheStreet's exclusive tax partner).

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