Zillow ranked Cleveland as the fourth best market for first-time home buyers on Wednesday.
Indianapolis and Pittsburg took first and second rankings, respectively.
The following are the factors it used to determine the best markets, according to Zillow.
- Median home values. Lower home values means buyers need less cash for a down payment to break into the housing market.
- Affordability. The places where mortgage payments take up a small share of income and rental payments are more unaffordable.
- Inventory. More homes for sale means it’s easier to find the perfect fit.
- Cash buyer competition. Fewer all-cash offers mean less competition.
- Indianapolis
- Pittsburgh
- Memphis, Tenn.
- Cleveland
- Chicago
- Oklahoma City
- St. Louis
- Houston
- Tampa, Fla.
- Birmingham, Ala.
