michael carliss
Zillow ranked markets based on the percentage of the population between the ages of 29 and 43, among several other metrics.
Metro San Antonio has once again been ranked among the best U.S. markets for first-time homebuyers, this time being named the 7th best market by online real estate marketplace Zillow.
Zillow’s ranking comes a month after a CreditNews study ranked metro San Antonio as the No. 3 best spot for first-time homebuyers.
Zillow looks at four different metrics, including the percentage of median household income spent on rent, the percentage of condominiums families can afford to buy, the level of competition for housing, and the number of people between the ages of 29 and 29. Ranked markets based on. 43 people live in the area.
According to Zillow, the top 10 metros for first-time homebuyers are:
- st louis
- detroit
- minneapolis
- Indianapolis
- austin
- pittsburgh
- san antonio
- birmingham alabama
- kansas city
- baltimore
In San Antonio, 31% of the population is in the age group specified in the study, and residents spent only 23% of their median household income on rent. Additionally, Zillow determined that 33% of the homes for sale here are “affordable,” or less than 30% of a family’s monthly income.
Neighboring Austin came in fifth. However, that ranking relies primarily on Austin’s youth, with 34% ranging from age 29 to age 43. That’s the largest percentage of the population in that age group, breaking Zillow’s top 10 best markets for first-time buyers.
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