Irondequoit ranked No. 1 market in the nation for first-time homebuyers
Irondequoit has been named the best market in the nation for first-time homebuyers for 2024 by Realtor.com.
The report ranked 2,738 communities that have populations of more than 5,000 and are within the country’s 100 largest metro areas, and just one community per metro area was included.
In ranking Irondequoit No. 1 overall, Realtor.com considered such factors as affordability, short commute times, things to do, a return on investment allowing for “an easy transition“ when people outgrow their homes, and the share of homeowners between the ages of 25 and 34 because, “first-time buyers may want to be close to people in similar life stages and around the same ages.”
The report put Irondequoit’s median list price at $187,000 for the 12-month period ending November 2023. Mattydale, near Syracuse, is the only market in Realtor.com's top 10 with a lower median list price, $138,450. (Nationally, it's $382,230.)
And even though list prices have risen significantly in recent years, Irondequoit's are still among the lowest in Monroe County, said Al Kerstein, a longtime agent for Howard Hanna Real Estate Services. “And the schools are well-respected," he said.
Irondequoit's tree-lined streets and stock of older homes with gumwood trim, hardwood floors and fireplaces also appeal to younger buyers, Kerstein said, as does the town's proximity to Lake Ontario.
Plus, often younger buyers are returning home after living in larger cities, "and their parents are in town, which makes for easy day care."
The average work commute is 22 minutes, one of the shortest, according to the report.
The things to do category, based on November 2023 Yelp data, shows nearly 15 culture and lifestyle businesses per 1,000 households. (Cheektowaga, Erie County, came out on top with 22.6.)
The top markets are in metro areas with an average forecasted 2024 home price growth rate of 6.1%, much higher than an expected national decline of -1.7%, the report says. “Irondequoit, N.Y., is located in the metro area with the highest expected median sale price growth rate (10.4%).”
The study does not take into account property taxes, and Irondequoit has one of the higher total tax rates in Monroe County.
The report predicts that in 2024, the share of Irondequoit homeowners between the ages of 25 and 34 will be 8.2%, higher than the national average of 5.4%.
The complete list is:
Irondequoit, New York
Benton, Arkansas
Winterset, Iowa
Newington, Connecticut
Council Bluffs, Iowa
Cheektowaga, New York
Grand Rapids, Michigan
Moore, Oklahoma
Mattydale, New York
Riviera Beach, Maryland
Reporter Marcia Greenwood covers general assignments. Send story tips to mgreenwo@rocheste.gannett.com. Follow her on Twitter @MarciaGreenwood.
This article originally appeared on Rochester Democrat and Chronicle: Realtor.com names Irondequoit NY best market for first-time homebuyers
