Business Insider found 10 U.S. cities where first-time homebuyers may still be able to secure an affordable home in a desirable location.
Not every market is filled with competitive prices and low inventory. There are many markets — such as Tampa, Florida and Las Vegas, Nevada— that offer first-time homebuyers low down payments in desirable locations. If homebuyers are able to pinpoint and understand current market trends, these markets can be easy to navigate through.
To establish its list of best markets for first-time homebuyers, Zillow evaluated metropolitan areas on four data points: current median home value; strength of home value appreciation forecast; size of current inventory; and current percentage of listings with a price cut. All four data points were given equal weighting. Listing and home-value data represent each market as of May 2019.
Tampa, Fla., topped the list, with a median home value of $215,500. It was followed by Las Vegas, Phoenix, Atlanta, and Orlando, Fla.