D.C.: A Smart Place to Buy… Sorta

Well, it's #10 on the list

By Mark Wellborn Urban Turf
|  Wednesday, Jan 27, 2010  |  Updated 12:50 PM EDT
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D.C.: A Smart Place to Buy… Sorta

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Forbes magazine is fairly famous for its lists. (Don’t you want to know who the World’s Most Powerful People are each year?) The financial publication recently released its ranking of the 10 cities that it considers as the best places to buy a home right now. The D.C. area made the list... barely.

Coming in at #10, the DMV rounded out a list that was topped by the Boston area. To determine what cities are smart buys, the magazine calculated the premium to buy -- the difference between what people would spend to rent and what they’d pay for a mortgage -- and also took into account where economists predict home prices will increase the most over the next five years.

The rest of the list includes:

  1. Boston-Cambridge-Quincy, Mass.
  2. Charlotte-Gastonia-Concord, N.C./S.C.
  3. Chicago-Naperville-Joliet, Ill./Ind./Wis.
  4. Cincinnati-Middletown, Ohio-Ky.
  5. Denver-Aurora-Broomfield, Colo.
  6. Minneapolis-St. Paul-Bloomington, Minn.-Wis.
  7. Philadelphia-Camden-Wilmington, Penn.-N.J.-Dela.
  8. Portland-Vancouver-Beaverton, Ore.-Wash.
  9. San Francisco-Oakland-Fremont, Calif.
  10. Washington-Arlington-Alexandria, D.C.-Va.-Md.

More recent articles about D.C.-area real estate from UrbanTurf:

 

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