Schenectady Named in Top 10 Markets for 1st Time Buyers Nationwide

Finding the best place to buy your first home can be overwhelming, but a recent bit of research published by Realtor.com into the top 10 nationwide markets for first-time buyers may make your decision easier. Schenectady, NY made the list at number seven, based on the following parameters:

Population Demographics

Having a social life is a top priority for many first-time buyers in the 25-34-year-old age range, and Schenectady boasts 13.5% of their population in this age bracket. So, making new friends may be a little easier here in Schenectady.

Active Listings

When it’s a seller’s market, finding a location with enough active listings to offer a variety of choices can be tough. There are 17.6 active listings per 1000 households in Schenectady, which is the best ratio for homebuyers of any of the ten cities listed!

Affordability

As of March 2021, the median listing price is a comfortable 4.5 compared to the 25-34-year-old income ratio. This means, based on your income, you will probably have a little more financial “breathing room” when buying in Schenectady as compared to other potential cities in the Capital Region (not to mention other cities nationwide).

Employment Opportunities

In December of 2020, Schenectady had a metro unemployment rate of 5.4%, which indicates that finding the job you want is statistically better than in many other areas. The unemployment rate is also lower in Schenectady than in six of the ten cities listed as top markets for first-time buyers in the Realtor.com study!

Less Time Commuting

You have so many better things to do with your time than to spend it commuting. Choosing a home close to work will expand the time you have for better activities. In Schenectady, the estimated travel time to work for 2021 is only 24 minutes, leaving you more time for other endeavors.

Social Life & Amenities

Schenectady is in a three-way tie for first place when it comes to the number of food and drink establishments per capita. Kalamazoo, Michigan; Great Falls, Montana; and Schenectady, New York all boast 6.1 of these social gathering places per 1000 households.

If you are looking for your first home this spring, contact us to see what’s available in and around Schenectady that may be a perfect fit for you!

Contact us today!

Created 5/7/21