Purchasing the perfect home can be difficult, especially for those navigating the housing market for the first time.
Luckily, a new report by Zillow reveals the country’s top housing markets for first-time buyers, measuring factors like home value, home appreciation, wealth and inventory.
“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,” Zillow writes. “Strong inventory and lower competition for listings also make a difference – as does the market outlook.”
The video below highlights the top 5 most affordable rental markets, according to Zillow’s research:
5. Orlando, Florida. In this metro, the median home value is $237,100 and 21.3% of home listings have experienced a price cut.
4. Atlanta, Georgia. In this metro, the median home value is $217,500 and 15.9% of home listings have experienced a price cut.
3. Phoenix, Arizona. In this metro, the median home value is $264,900 and 20.9% of home listings have experienced a price cut.
2. Las Vegas, Nevada. In this metro, the median home value is $277,900 and 23.9% of home listings have experienced a price cut.
1. Tampa, Florida. In this metro, the median home value is $213,600 and 24.8% of home listings have experienced a price cut.
