These Are the 10 Best Places to Purchase a Home for First-Time Buyers, According to Zillow

One of the first things to consider when buying a home for the first time is where you will live. To help make the decision easier, Zillow just released its report of the best markets for first-time home buyers in 2024.

The real-estate marketplace company based its list on four metrics: rent affordability, available inventory on Zillow that the median household can afford, the ratio of affordable for-sale inventory to renter households, and the share of households aged 29 to 43 years.

With those metrics in mind, Zillow determined that St. Louis, Mo. is the best place to purchase a home if you're a first-time home buyer. Coming in second place is another midwestern location: Detroit, Mich. Both of these cities score well in terms of affordability and for the number of affordable homes available to buy.

Rounding out the top five is Minneapolis, Minn., Indianapolis, Ill., and Austin, Texas. While Austin isn't the most affordable housing market on the list, it ranks first in the number of similar-age households living there, which helps first-time home buyers build a community, Zillow reports.

Top 10 Markets for First-Time Home Buyers in 2024 

1. St. Louis, Mo.
2. Detroit, Mich.
3. Minneapolis, Minn.
4. Indianapolis, Ill.
5. Austin, Texas
6. Pittsburgh, Pa.
7. San Antonio, Texas
8. Birmingham, Ala.
9. Kansas City, Mo.
10. Baltimore, Md.