Phoenix ranked first among the top 10 U.S. cities with the best housing options for workers in the healthcare industry. The city also emerged as the best place in terms of job opportunities and industry pay.
Dubbed as “sweet spots,” the study by Zillow and LinkedIn aimed to identify the best cities across the U.S. for those working in the technology, finance, and medical sectors. For tech employees, Seattle is the best city as it offers many job opportunities, competitive salary and affordable housing.
Zillow chief economist Svenja Gudell said that study compared the level of wages for employees in a certain field to home values. Even if you have a high salary, it will not be helpful if home prices are high due to limited supply homes and high demand, according to Gudell.
Home prices in coastal areas have also increased in the last 10 years, mainly because of demand from people with high-income jobs. For those living in Arizona, legislation was introduced that would allow people with poor or no credit history to apply for loans.
House Bill 2496 seeks to provide more people with access to loans. A caveat, however, is that these loans would have a 164% fee with a $2,500 cap on consumer line of credit that must be paid off within a year. The bill will also impose guidelines for qualified borrowers.
If you’re looking for a larger amount, Primary Residential Mortgage, Inc. says that a mortgage company in Phoenix or any other city in the state may help you find the right loan package.
A high-paying job does not always guarantee that it can cover significant transactions like buying a house. There are times that we will need to seek third-party funds such as mortgage loans to cover most, if not all, of the required costs for a home purchase.