For those looking to purchase a home in Ames, Iowa, now may be the best time ever to purchase a home. Unlike many areas of the country, the median sales price in Ames, Iowa has remained consistents over the past few years. The median sales price has consistently stayed just below $200,000 despite the housing crisis and overall economic turmoil. Once the nation’s housing market and economy begin to improve, Ames homeowners could expect their housing prices to rise.

Another reason purchasing a home in Ames is a good idea is because interest rates are near all time lows. An mortgage borrower with a good credit score and sizable down payment could reasonably expect to get a 30 year mortgage interest rate of 5.25% or less. If they can afford to make the payments, a borrower could also expect to get a 15 year mortgage rate of 4.50% or less. Capturing and securing a low interest rate like these will save a lot of money over the course of the mortgage.

Also, the federal government is offering huge incentives to any first time homebuyer who is purchasing a home. A first time homebuyer could get a tax credit of up to $8,000.

A huge benefit of purchasing a home in Ames, Iowa is that the city will have a consistent flow of people living in the town. Iowa State University has over 25,000 students and close to 2,000 faculty workers that are sure to keep the city full and the demand for housing up.