Where Does Philadelphia Rank Among Best Cities For First-Time Home Buyers?

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PHILADELPHIA (CBS) — If you are looking to purchase a home for the very first time, you might want to look outside Philadelphia to get a deal on a house.

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Philadelphia ranks in the middle of pack at 114th overall, among 300 cities in the United States, when it comes to first-home buying, according to a recent WalletHub study. In just ranking major cities, Philadelphia came in 22nd out of a field of 63.

The study looked at the multitude of cities and compared them on the following: affordability, market attractiveness and quality of life.

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Philadelphia ranks 40th in affordability, 243rd in real estate market and 164th in quality of life.

Newark, New Jersey, the closest Tri-State city to Philadelphia in the rankings, is listed as the eighth worst place to buy a home for the first time, coming in at 292nd overall.

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WalletHub used data ranging from cost of living to real-estate taxes to property-crime rate.