San Antonio ranked among best markets for first-time homebuyers – again

San Antonio came in as the No. 7 best market for first-time homebuyers, just behind Austin.

click to enlarge Zillow ranked markets based on the percent of the population between 29 and 43 years old, among several other metrics. - Michael Karlis
Michael Karlis
Zillow ranked markets based on the percent of the population between 29 and 43 years old, among several other metrics.
The San Antonio metro has once again ranked among the best U.S. markets for first-time homebuyers, this time being named the seventh-best by online real estate marketplace Zillow.

Zillow's ranking comes a month after CreditNews research ranked the San Antonio metro as the No. 3 best spot for for those purchasing their first home.

Zillow ranked markets based on four distinct metrics, including the share of median household income spent on rent, the percent of for-sale listings a family can comfortably afford, how much competition there is for homes and how many people between the ages of 29 and 43 live in that area.

Top 10 metros for first time homebuyers, according to Zillow, are:
  1. St. Louis
  2. Detroit
  3. Minneapolis
  4. Indianapolis
  5. Austin
  6. Pittsburgh
  7. San Antonio
  8. Birmingham, Alabama
  9. Kansas City
  10. Baltimore
San Antonio had 31% of its population in the study's designated age range, and residents spent only 23% of its median household income on rent. Additionally, Zillow deemed 33% of the houses listed for sale here as "affordable," meaning they cost less than 30% of a family's monthly income.

Neighboring Austin took the No. 5 spot. However, that ranking largely relied on Austin's younger population — 34% are between 29 and 43 years old. That's the largest share of the population in that age range to crack Zillow's top 10 best markets for first-time buyers.

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Michael Karlis

Michael Karlis is a Staff Writer at the San Antonio Current. He is a graduate of American University in Washington, D.C., whose work has been featured in Salon, Alternet, Creative Loafing Tampa Bay, Orlando Weekly, NewsBreak, 420 Magazine and Mexico Travel Today. He reports primarily on breaking news, politics...

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