A recent analysis from Zillow says as the share of buyers purchasing a home for the first time rebounds to pre-pandemic levels, Wichita, Kansas tops the list for for potential first-time home buyers. In fact, six metros in the Midwest are on that list as well with First-time buyers now represent 45% of all buyers nationwide.
"Although housing affordability is extremely challenging these days, some markets will be more hospitable than others for first-time home buyers...These metros are potential hotbeds for those looking to buy their first home. Not only will shoppers find more affordable monthly mortgage costs...but rent also is more affordable than elsewhere in the country, shortening the time it takes to save for a down payment." Said Zillow senior economist Orphe Divounguy.
Zillow's top 10 best metros for first-time home buyers:
- Wichita, KS
- Toledo, OH
- Syracuse, NY
- Akron, OH
- Cleveland, OH
- Tulsa, OK
- Detroit, MI
- Pittsburgh, PA
- St. Louis, MO
- Little Rock, AR
Click here to read the full report at Zillow.
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