First-Time Home Buyers Should Look Here

First American locates 10 most affordable cities for the group
By Arden Dier,  Newser Staff
Posted May 27, 2019 10:52 AM CDT
First-Time Home Buyers Should Look Here

Americans looking to buy their first home should consider the Midwest and South, according to insurance firm First American. The company uses its own calculations, saying "any affordability metric that includes existing homeowners is wildly misleading to first-time homebuyers" since the former group can already afford a home, per the Scotsman Guide. It therefore compares the median income of renters with home prices to find which of the nation's 44 largest cities has the highest percentage of homes affordable to first-time buyers, who are "nearly certain to be currently renting." In two cities, they’d have their pick at 71% of homes on the market, per Fox News. The top 10:

  1. Memphis: 71%
  2. Oklahoma City: 71%
  3. Pittsburgh: 69%
  4. Atlanta: 66%
  5. Cincinnati: 66%
  6. Kansas City, Mo.: 65%
  7. Tampa: 65%
  8. Detroit: 62%
  9. St. Louis: 61%
  10. Chicago: 60%
(See the best US cities to begin your career.)

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