Best cities for first time homebuyers

When you buy your first home, you want to choose a place you like – and also a place you can afford.

To determine the best cities for first time buyers, the SmartAsset Personal Finance website rated US cities of 300,000 or more on seven indicators: value per square foot, number of mortgage lenders, loan financing rate, market volatility , fluctuations in the price of housing, housing affordability and stability of the homeowner.

The site used data from a number of sources, including the Department of Housing and Urban Development, Zillow, the Mortgage Bankers Association, the US Census Bureau, and the Federal Housing Finance Agency.

Below, discover 10 cities where first-time homebuyers can find a combination of affordable homes, many mortgage lenders and thriving real estate markets.

Average value of the house per square foot: $ 104.50

Average value of the house per square foot: $ 137.58

Average value of the house per square foot: $ 121.42

Average value of the house per square foot: $ 111.33

Average value of the house per square foot: $ 137.75

Average value of the house per square foot: $ 124.08

Average value of the house per square foot: $ 94.08

Average value of the house per square foot: $ 111.42

Average value of the house per square foot: $ 83.25

Couple toasting champagne in new house.

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