The 10 best places in the US for first-time homebuyers to invest in real estate right now

https://www.businessinsider.com/best-places-to-invest-in-real-estate-in-the-us-2019-7

The US housing market can seem highly competitive and saturated with unaffordable homes – especially for homebuyers looking to close on a house for the first time.

According to Zillow, first-time homebuyers account for 46% of all homebuyers and are more likely than veteran homebuyers to go over their budgets.

But 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.

Read more: The 25 US suburbs where home values are growing the fastest, ranked

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.

Keep reading for a ranking of the top 10 best metros for first-time homebuyers.

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10. Charlotte, North Carolina

Foto: sourceShutterstock

Share of listings with a price cut: 15.4%

The median home value in the Charlotte, North Carolina metro area is $209,800 and the median listing price per square foot is $135.

According to Zillow, home values have increased by 7.7% since June 2018.


9. Nashville, Tennessee

Foto: sourcef11photo/Shutterstock

Share of listings with a price cut: 14.7%

The median home value in the Nashville, Tennessee metro area is $255,500 and the median listing price per square foot is $166.

According to Zillow, home values have increased by 4.4% since June 2018.


8. Dallas, Texas

Foto: sourcemandritoiu/Shutterstock

Share of listings with a price cut: 20.3%

The median home value in the Dallas, Texas metro area is $242,900 and the median listing price per square foot is $140.

According to Zillow, home values have increased by 5.6% since June 2018.


7. Detroit, Michigan

Foto: sourcef11photo/Shutterstock

Share of listings with a price cut: 18.1%

The median home value in the Detroit, Michigan metro area is $163,100 and the median listing price per square foot is $135.

According to Zillow, home values have increased by 5.8% since June 2018.


6. Miami, Florida

Foto: sourceGetty Images

Share of listings with a price cut: 15.5%

The median home value in the Miami, Florida metro area is $282,700 and the median listing price per square foot is $221.

According to Zillow, home values in Miami have increased by 3.2% since June 2018.


5. Orlando, Florida

Foto: sourceSean Pavone/Shutterstock

Share of listings with a price cut: 20.5%

The median home value in the Orlando, Florida metro area is $240,500 and the median listing price per square foot is $149.

According to Zillow, home values in Orlando have increased by 6.4% since June 2018.


4. Atlanta, Georgia

Foto: sourceSean Pavone/Shutterstock

Share of listings with a price cut: 16.8%

The median home value in the Atlanta, Georgia metro area is $219,700 and the median listing price per square foot is $131.

According to Zillow, home values in Atlanta have increased by 7.6% since June 2018.


3. Phoenix, Arizona

Foto: sourceSean Pavone/Shutterstock

Share of listings with a price cut: 17.4%

The median home value in the Phoenix, Arizona metro area is $267,200 and the median listing price per square foot is $163.

According to Zillow, home values have increased by 4.9% since June 2018.


2. Las Vegas, Nevada

Foto: sourcerandy andy/Shutterstock

Share of listings with a price cut: 25.7%

The median home value in the Las Vegas, Nevada metro area is $278,700 and the median listing price per square foot is $170.

According to Zillow home values have increased by 6.1% since June 2018.


1. Tampa, Florida

Foto: sourceESB Professional/Shutterstock

Share of listings with a price cut: 21.8%

The median home value in the Tampa, Florida metro area is $215,500 and the median listing price per square foot is $145.

According to Zillow, home values have increased by 5.5% since June 2018.

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