Virginia Beach is the 4th best city for first-time homebuyers in 2022, according to a new report from financial technology company SmartAsset.

They compared 181 cities using twelve different metrics divided into four categories: home market favorability, affordability, livability, and employment.

Virginia Beach had the best scores in the livability category this year, a category that looks at a city’s concentration of dining and entertainment establishments, average commute time, and violent crime rate. We were 13th best for affordability in the country this year. Affordability scores were calculated using under-45 homeownership rate, housing costs as a percentage of income, effective property tax rate, and down payment-to-income ratio. 

Regular readers will remember that last year WalletHub called Virginia Beach the best large city for first-time homebuyers, and Chesapeake the best city overall. The same report called Hampton the 6th best and Norfolk the 9th best in the country overall.

Home buying is particularly daunting right now as demand is far outstripping supply. There just aren’t enough houses to go around, especially at the more affordable end of the spectrum. At the same time inflation and a lack of enough savings for a down payment mean many people are having to put off the house hunt for the time being.

So what if one isn’t ready to buy in Hampton Roads just yet? You’re in luck because Virginia Beach, Norfolk, and Chesapeake are all also among the best cities in the country for renters according Forbes. So the news is good in Hampton Roads for more than just those seeking to buy soon.

The best city for people buying their first home in 2022 is Bellevue, WA. Richmond, VA is the 23rd best city this year.