50 Best Cities for First-Time Homebuyers in 2024

Buying a home for the first time is one of the most important decisions you can make for your financial future, from your financial viability to the memories you’ll make.

However, finding the right home for you is more than just picking out the right colors or planning what to do with the perfect yard space. Like many elements in life, it can all boil down to location, location, location.

Whether you’re looking for a home with many bedrooms or just one, or even a condo, you’ll find certain places around the country are more affordable than others. The good news is that you can find the right city for you — regardless of your preferences in climate or culture — almost anywhere.

Also the best cities for first-time homebuyers in 2024.

• Home Value: $320,326
• Mortgage Payment: $1,937
• Condo Value: $173,885
• Condo Mortgage: $1,052
• One Bedroom Home Value: $159,958
• One Bedroom Mortgage: $967

• Home Value: $555,010
• Mortgage Payment: $3,357
• Condo Value: $256,038
• Condo Mortgage: $1,549
• One Bedroom Home Value: $171,164
• One Bedroom Mortgage: $1,035

• Home Value: $302,097
• Mortgage Payment: $1,827
• Condo Value: $161,009
• Condo Mortgage: $974
• One Bedroom Home Value: $163,606
• One Bedroom Mortgage: $990

• Home Value: $457,973
• Mortgage Payment: $2,770
• Condo Value: $210,667
• Condo Mortgage: $1,274
• One Bedroom Home Value: $180,405
• One Bedroom Mortgage: $1,091

• Home Value: $298,121
• Mortgage Payment: $1,803
• Condo Value: $213,994
• Condo Mortgage: $1,294
• One Bedroom Home Value: $152,700
• One Bedroom Mortgage: $924

• Home Value: $497,682
• Mortgage Payment: $3,010
• Condo Value: $358,476
• Condo Mortgage: $2,168
• One Bedroom Home Value: $248,750
• One Bedroom Mortgage: $1,505

• Home Value: $553,181
• Mortgage Payment: $3,346
• Condo Value: $328,747
• Condo Mortgage: $1,988
• One Bedroom Home Value: $250,706
• One Bedroom Mortgage: $1,516

• Home Value: $365,926
• Mortgage Payment: $2,213
• Condo Value: $204,483
• Condo Mortgage: $1,237
• One Bedroom Home Value: $208,607
• One Bedroom Mortgage: $1,262

• Home Value: $544,019
• Mortgage Payment: $3,290
• Condo Value: $357,652
• Condo Mortgage: $2,163
• One Bedroom Home Value: $304,638
• One Bedroom Mortgage: $1,843

• Home Value: $283,379
• Mortgage Payment: $1,714
• Condo Value: $129,504
• Condo Mortgage: $783
• One Bedroom Home Value: $118,288
• One Bedroom Mortgage: $715

• Home Value: $248,875
• Mortgage Payment: $1,505
• Condo Value: $107,121
• Condo Mortgage: $648
• One Bedroom Home Value: $99,743
• One Bedroom Mortgage: $603

• Home Value: $381,107
• Mortgage Payment: $2,305
• Condo Value: $252,913
• Condo Mortgage: $1,530
• One Bedroom Home Value: $174,885
• One Bedroom Mortgage: $1,058

• Home Value: $366,321
• Mortgage Payment: $2,216
• Condo Value: $169,185
• Condo Mortgage: $1,023
• One Bedroom Home Value: $151,008
• One Bedroom Mortgage: $913

• Home Value: $321,648
• Mortgage Payment: $1,945
• Condo Value: $216,850
• Condo Mortgage: $1,312
• One Bedroom Home Value: $147,350
• One Bedroom Mortgage: $891

• Home Value: $225,268
• Mortgage Payment: $1,362
• Condo Value: $213,527
• Condo Mortgage: $1,291
• One Bedroom Home Value: $91,313
• One Bedroom Mortgage: $552

• Home Value: $528,786
• Mortgage Payment: $3,198
• Condo Value: $274,302
• Condo Mortgage: $1,659
• One Bedroom Home Value: $241,518
• One Bedroom Mortgage: $1,461

• Home Value: $400,473
• Mortgage Payment: $2,422
• Condo Value: $209,580
• Condo Mortgage: $1,268
• One Bedroom Home Value: $232,725
• One Bedroom Mortgage: $1,408

• Home Value: $797,214
• Mortgage Payment: $4,822
• Condo Value: $432,061
• Condo Mortgage: $2,613
• One Bedroom Home Value: $371,690
• One Bedroom Mortgage: $2,248

• Home Value: $194,315
• Mortgage Payment: $1,175
• Condo Value: $163,436
• Condo Mortgage: $989
• One Bedroom Home Value: $90,684
• One Bedroom Mortgage: $548

• Home Value: $278,352
• Mortgage Payment: $1,684
• Condo Value: $225,217
• Condo Mortgage: $1,362
• One Bedroom Home Value: $148,562
• One Bedroom Mortgage: $899

• Home Value: $276,124
• Mortgage Payment: $1,670
• Condo Value: $221,401
• Condo Mortgage: $1,339
• One Bedroom Home Value: $206,420
• One Bedroom Mortgage: $1,248

• Home Value: $292,287
• Mortgage Payment: $1,768
• Condo Value: $186,319
• Condo Mortgage: $1,127
• One Bedroom Home Value: $142,122
• One Bedroom Mortgage: $860

• Home Value: $255,891
• Mortgage Payment: $1,548
• Condo Value: $171,833
• Condo Mortgage: $1,039
• One Bedroom Home Value: $141,550
• One Bedroom Mortgage: $856

• Home Value: $282,670
• Mortgage Payment: $1,710
• Condo Value: $176,388
• Condo Mortgage: $1,067
• One Bedroom Home Value: $137,703
• One Bedroom Mortgage: $833

• Home Value: $625,158
• Mortgage Payment: $3,781
• Condo Value: $404,370
• Condo Mortgage: $2,446
• One Bedroom Home Value: $355,173
• One Bedroom Mortgage: $2,148

• Home Value: $199,739
• Mortgage Payment: $1,208
• Condo Value: $194,141
• Condo Mortgage: $1,174
• One Bedroom Home Value: $129,402
• One Bedroom Mortgage: $783

• Home Value: $286,005
• Mortgage Payment: $1,730
• Condo Value: $176,615
• Condo Mortgage: $1,068
• One Bedroom Home Value: $124,614
• One Bedroom Mortgage: $754

• Home Value: $227,329
• Mortgage Payment: $1,375
• Condo Value: $232,663
• Condo Mortgage: $1,407
• One Bedroom Home Value: $152,291
• One Bedroom Mortgage: $921

• Home Value: $257,711
• Mortgage Payment: $1,559
• Condo Value: $191,702
• Condo Mortgage: $1,159
• One Bedroom Home Value: $124,460
• One Bedroom Mortgage: $753

• Home Value: $384,415
• Mortgage Payment: $2,325
• Condo Value: $212,397
• Condo Mortgage: $1,285
• One Bedroom Home Value: $167,534
• One Bedroom Mortgage: $1,013

• Home Value: $533,835
• Mortgage Payment: $3,229
• Condo Value: $356,809
• Condo Mortgage: $2,158
• One Bedroom Home Value: $228,356
• One Bedroom Mortgage: $1,381

• Home Value: $126,631
• Mortgage Payment: $766
• Condo Value: $185,028
• Condo Mortgage: $1,119
• One Bedroom Home Value: $75,128
• One Bedroom Mortgage: $454

• Home Value: $503,152
• Mortgage Payment: $3,043
• Condo Value: $242,935
• Condo Mortgage: $1,469
• One Bedroom Home Value: $181,548
• One Bedroom Mortgage: $1,098

• Home Value: $397,887
• Mortgage Payment: $2,407
• Condo Value: $329,094
• Condo Mortgage: $1,990
• One Bedroom Home Value: $220,889
• One Bedroom Mortgage: $1,336

• Home Value: $643,498
• Mortgage Payment: $3,892
• Condo Value: $368,071
• Condo Mortgage: $2,226
• One Bedroom Home Value: $304,786
• One Bedroom Mortgage: $1,843

• Home Value: $442,852
• Mortgage Payment: $2,678
• Condo Value: $315,319
• Condo Mortgage: $1,907
• One Bedroom Home Value: $293,723
• One Bedroom Mortgage: $1,777

• Home Value: $245,209
• Mortgage Payment: $1,483
• Condo Value: $150,942
• Condo Mortgage: $913
• One Bedroom Home Value: $105,149
• One Bedroom Mortgage: $636

• Home Value: $221,636
• Mortgage Payment: $1,341
• Condo Value: $172,117
• Condo Mortgage: $1,041
• One Bedroom Home Value: $129,282
• One Bedroom Mortgage: $782

• Home Value: $348,593
• Mortgage Payment: $2,108
• Condo Value: $308,191
• Condo Mortgage: $1,864
• One Bedroom Home Value: $252,223
• One Bedroom Mortgage: $1,526

• Home Value: $302,431
• Mortgage Payment: $1,829
• Condo Value: $216,630
• Condo Mortgage: $1,310
• One Bedroom Home Value: $168,620
• One Bedroom Mortgage: $1,020

• Home Value: $440,289
• Mortgage Payment: $2,663
• Condo Value: $257,988
• Condo Mortgage: $1,560
• One Bedroom Home Value: $211,253
• One Bedroom Mortgage: $1,278

• Home Value: $276,947
• Mortgage Payment: $1,675
• Condo Value: $311,483
• Condo Mortgage: $1,884
• One Bedroom Home Value: $230,301
• One Bedroom Mortgage: $1,393

• Home Value: $284,228
• Mortgage Payment: $1,719
• Condo Value: $202,586
• Condo Mortgage: $1,225
• One Bedroom Home Value: $166,553
• One Bedroom Mortgage: $1,007

• Home Value: $316,975
• Mortgage Payment: $1,917
• Condo Value: $187,304
• Condo Mortgage: $1,133
• One Bedroom Home Value: $157,505
• One Bedroom Mortgage: $953

• Home Value: $316,469
• Mortgage Payment: $1,914
• Condo Value: $242,874
• Condo Mortgage: $1,469
• One Bedroom Home Value: $173,071
• One Bedroom Mortgage: $1,047

• Home Value: $414,662
• Mortgage Payment: $2,508
• Condo Value: $249,613
• Condo Mortgage: $1,510
• One Bedroom Home Value: $205,504
• One Bedroom Mortgage: $1,243

• Home Value: $298,584
• Mortgage Payment: $1,806
• Condo Value: $209,565
• Condo Mortgage: $1,268
• One Bedroom Home Value: $163,526
• One Bedroom Mortgage: $989

• Home Value: $400,565
• Mortgage Payment: $2,423
• Condo Value: $238,597
• Condo Mortgage: $1,443
• One Bedroom Home Value: $180,467
• One Bedroom Mortgage: $1,092

• Home Value: $374,143
• Mortgage Payment: $2,263
• Condo Value: $244,110
• Condo Mortgage: $1,476
• One Bedroom Home Value: $165,568
• One Bedroom Mortgage: $1,001

• Home Value: $380,800
• Mortgage Payment: $2,303
• Condo Value: $249,857
• Condo Mortgage: $1,511
• One Bedroom Home Value: $236,076
• One Bedroom Mortgage: $1,428

For this study, GOBankingRates analyzed home value across the United States to find the best places for first time homebuyers. GOBankingRates started by finding the top 300 cities by total number of households as sourced from the U.S. Census American Community Survey. The total population and median household income were also included from the same source. For each city, the average home value was found for all homes, condos and one bedroom homes as sourced from the Zillow Home Value Index for March 2024. Assuming a 10% down payment and using the national 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated for each city. The livability index was sourced from AreaVibes as a factor to determine quality of life, and to qualify for this study, the city had to have a livability index of 80 or higher. The livability index, median household income, mortgage for all homes, mortgage for condos and mortgage for one bedroom homes were all scored. The scores were sorted to show the best cities for first-time homebuyers. All data was collected on and is up to date as of April 18, 2024.