10 Best Places for First-Time Homebuyers in 2024

Purchasing a home has been especially difficult for first-time buyers in recent years thanks to rising prices, increasing mortgage rates and a lack of inventory. Although 2024 is anticipated to still be a challenging year, there are some great opportunities for first-time buyers, especially those with some flexibility on location.

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To find the best markets for first-time homebuyers, Realtor.com analyzed 2,738 cities across a number of factors including affordability, the share of 25- to 34-year-olds in the local population, availability of homes for sale, job opportunities, average commute time to work, amenities, and forecasted metro home sales and home price growth in 2024. Based on the analysis, these are the top 10 markets for first-time homebuyers in 2024.

Colorful row houses along a sunny residential street.

10. Riviera Beach, Maryland

  • Forecasted 25- to 34-year-old population share: 10.9%
  • Inventory per 1,000 households: 59.3
  • Median listing price: $264,079
  • Price-to-income ratio: 2.7
  • Forecasted average travel time to work (minutes): 33

Pictured: Baltimore

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Syracuse is a city in, and the county seat of Onondaga County, New York, United States.

9. Mattydale, New York

  • Forecasted 25- to 34-year-old population share: 7.4%
  • Inventory per 1,000 households: 31.6
  • Median listing price: $138,450
  • Price-to-income ratio: 2.0
  • Forecasted average travel time to work (minutes): 20

Pictured: Syracuse, New York

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Oklahoma City, Oklahoma, USA cityscape in Bricktown at dusk.

8. Moore, Oklahoma

  • Forecasted 25- to 34-year-old population share: 9.7%
  • Inventory per 1,000 households: 43.6
  • Median listing price: $231,475
  • Price-to-income ratio: 3.2
  • Forecasted average travel time to work (minutes): 26

Pictured: Oklahoma City

michigan-grand-rapids

7. Grand Rapids, Michigan

  • Forecasted 25- to 34-year-old population share: 9.5%
  • Inventory per 1,000 households: 33.1
  • Median listing price: $260,000
  • Price-to-income ratio: 4.3
  • Forecasted average travel time to work (minutes): 21
Buffalo is the second largest city in the state of New York and the 81st most populous city in the United States.

6. Cheektowaga, New York

  • Forecasted 25- to 34-year-old population share: 7.2%
  • Inventory per 1,000 households: 26.6
  • Median listing price: $199,000
  • Price-to-income ratio: 3.1
  • Forecasted average travel time to work (minutes): 21

Pictured: Buffalo, New York

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A pedestrian bridge crossing the Missouri River.

5. Council Bluffs, Iowa

  • Forecasted 25- to 34-year-old population share: 6.4%
  • Inventory per 1,000 households: 37.6
  • Median listing price: $200,000
  • Price-to-income ratio: 3.0
  • Forecasted average travel time to work (minutes): 21
Soldiers and Sailors Memorial Arch in Hartford, Connecticut, USA commemorating the Civil War.

4. Newington, Connecticut

  • Forecasted 25- to 34-year-old population share: 6.6%
  • Inventory per 1,000 households: 37.8
  • Median listing price: $290,294
  • Price-to-income ratio: 3.4
  • Forecasted average travel time to work (minutes): 23

Pictured: Hartford, Connecticut

Winterset, United States - September 24, 2019.

3. Winterset, Iowa

  • Forecasted 25- to 34-year-old population share: 7.3%
  • Inventory per 1,000 households: 47.8
  • Median listing price: $269,400
  • Price-to-income ratio: 4.0
  • Forecasted average travel time to work (minutes): 23

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Bentonville Arkansas

2. Benton, Arkansas

  • Forecasted 25- to 34-year-old population share: 7.6%
  • Inventory per 1,000 households: 50.2
  • Median listing price: $197,500
  • Price-to-income ratio: 3.0
  • Forecasted average travel time to work (minutes): 25

Pictured: Bentonville, Arkansas

Urban Skyline, City, Cityscape, Rochester - New York State, New York State.

1. Irondequoit, New York

  • Forecasted 25- to 34-year-old population share: 8.2%
  • Inventory per 1,000 households: 34.1
  • Median listing price: $187,000
  • Price-to-income ratio: 2.5
  • Forecasted average travel time to work (minutes): 22

Pictured: Rochester, New York

All data is sourced from Realtor.com’s Best Markets for First-Time Homebuyers in 2024 and is accurate as of Jan. 16, 2024.

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This article originally appeared on GOBankingRates.com: 10 Best Places for First-Time Homebuyers in 2024

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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