Right now buying a home can seem out of reach for many, thanks to both high prices and rising interest rates. But if you already own a home, you may be enjoying the extra equity you've accumulated from increasing property values. That said, some cities provide a better boost for homeowners than others.
The Zebra looked at the 50 most populous American cities to find which ones are better for homeowners. We analyzed three main data points for this evaluation:
- Average homeowners insurance premiums by state: Having a less expensive policy keeps monthly mortgage payments lower since annual premiums are paid into an escrow account to be managed by your mortgage loan servicer.
- Contractor availability: Maintaining a home is hard enough without having to wait around for a contractor who's never coming. The top cities have a high location quotient for contractors, meaning there is a higher concentration of this job based on population.
- Increase in home value: We pulled the year-over-year average increase in value between the second quarters of 2021 and 2022.
Explore the 10 best U.S. cities for homeowners who want to easily maintain their property while also building their equity.