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Posted on: July 16, 2018

WalletHub names Broken Arrow best city for first time home buyers

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Broken Arrow has again been named the Best City for First-Time Home Buyers by personal finance website WalletHub. Broken Arrow also received this honor in 2014.

To make its list, WalletHub compared 300 cities of varying sizes across 27 key indicators of market attractiveness, affordability and quality of life. Their data set ranged from cost of living to real-estate taxes to property-crime rate. Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for first-time home buyers. Finally, each city’s weighted average across all metrics was determined to calculate its overall score, which was used to rank each city.

“It’s no surprise to me that Broken Arrow is the best city for first time home owners in the U.S. Your money goes farther here, meaning you can purchase a higher value home than you could in other parts of the country,” said Mayor Craig Thurmond. “Broken Arrow has a low crime rate, excellent schools, high-paying jobs in and near the City and a wide variety of recreational and cultural amenities making Broken Arrow an attractive place for people to buy their first house.”

“Broken Arrow is an amazing place to live and work, and this recognition is just another in a long list that proves that point,” said City Manager Michael Spurgeon. “Just this year, Broken Arrow was named the Most Livable Small City in the the U.S. Conference of Mayors, Business Insider’s ninth Lowest Crime City and our Rose District was named USA Today’s top Most Charming Main Street in Oklahoma. Great things keep happening in Broken Arrow, and we know people will keep coming here to find out why.”

According to real estate database Zillow, the current median home value in Broken Arrow is $161,700 as of May 2018. Home values have increased 5.1 percent over the past year and Zillow predicts they will rise 3.3 percent within the next year.

Read the complete WalletHub report.

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