Best Metros for First-Time Buyers

Becoming a homeowner for the first time is easier in some markets than others-and the difference is not strictly about home prices, although they have a big impact on how long it takes to save a down payment. Strong inventory and lower competition for listings also make a difference-as does the market outlook.

Therefore, Zillow’s spring shopping season 2019 list of the best markets for first-time buyers is based on four metrics: Lower median home value that requires a smaller down payment; a strong home value appreciation forecast, helping buyers' overall wealth grow; a high inventory-to-household ratio, to indicate available supply; and a high share of listings with a price cut.

1. Tampa

Median Home Value: $213,600

Share of Listings With a Price Cut: 24.8%

National Population Rank: 19

 

2. Las Vegas

Median Home Value: $277,900

Share of Listings With a Price Cut: 23.9%

National Population Rank: 30

 

3. Phoenix

Median Home Value: $264,900

Share of Listings With a Price Cut: 20.9%

National Population Rank: 14

 

4. Atlanta

Median Home Value: $217,500

Share of Listings With a Price Cut: 15.9%

National Population Rank: 9

 

5. Orlando

 

Median Home Value: $237,100

Share of Listings With a Price Cut: 21.3%

National Population Rank: 27

 

6. Miami

 

Median Home Value: $283,800

Share of Listings With a Price Cut: 18.6%

National Population Rank: 8

 

7. Detroit

Median Home Value: $160,000

Share of Listings With a Price Cut: 16.5%

National Population Rank: 12

 

8. Dallas

Median Home Value: $242,600

Share of Listings With a Price Cut: 18.7%

National Population Rank: 4

 

9. Nashville

Median Home Value: $253,500

Share of Listings With a Price Cut: 14.9%

National Population Rank: 35

 

10. Charlotte

Median Home Value: $206,200

Share of Listings With a Price Cut: 16.4%

National Population Rank: 24

 

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