Top 7 Cities for First-Time Homebuyers

Downtown skyline sunset in Columbus, OH

Homebuyers these days have dozens of things they need to take into consideration. Between all the different factors that go into homebuying, finding the right location can often be difficult, especially for first-time buyers.

By taking some of the most crucial factors into account, the list below ranks our top 7 cities for first-time homebuyers. The factors we analyzed included:

    Cost of Living Averages
    Median Home Prices
    Qualifying Income
    Unemployment Rate
    Price per Square Foot ($)
    Average Monthly Mortgage Payment


When we combined those factors, we were able to get a better picture of the standard of living in each city, and the appeal it may have for first-time homebuyers.


skyline of Columbus, OH

#7 – Columbus, OH

Key Factors:

  • Cost of Living: -5.2% below national avg.
  • Median Home Price: $121,900
  • Qualifying Income: $38,944

  • Unemployment Rate: 4%
  • Price per Sq. Ft.: $100/sq. ft.
  • Avg Monthly Mortgage Payment: $570


downtown colorado springs co

#6 – Colorado Springs, CO

Key Factors:

  • Cost of Living: +0.5% above national avg.
  • Median Home Price: $236,700
  • Qualifying Income: $56,765

  • Unemployment Rate: 3.8%
  • Price per Sq. Ft.: $130/sq. ft.
  • Avg Monthly Mortgage Payment: $823


Dallas Texas skyline

#5 – Dallas, TX

Key Factors

  • Cost of Living: +8.4% above national average
  • Median Home Price: $153,900
  • Qualifying Income: $49,431

  • Unemployment Rate: 3.6%
  • Price per Sq. Ft.: $189/sq. ft.
  • Avg Monthly Mortgage Payment: $490


picture of downtown san antonion at night

#4 – San Antonio, TX

Key Factors

  • Cost of Living: +2.3% above national average
  • Median Home Price: $220,320
  • Qualifying Income: $45,528

  • Unemployment Rate: 3.7%
  • Price per Sq. Ft.: $106/sq. ft.
  • Avg Monthly Mortgage Payment: $478


Skyline picture of Omaha Nebraska at night

#3 – Omaha, NE

Key Factors

  • Cost of Living: -6.1% below national average
  • Median Home Price: $146,100
  • Qualifying Income: $37,550

  • Unemployment Rate: 3.2%
  • Price per Sq. Ft.: $121/sq. ft.
  • Avg Monthly Mortgage Payment: $552


Daytime picture of downtown Indianapolis

#2 – Indianapolis, IN

Key Factors

  • Cost of Living: -7.6% below national average
  • Median Home Price: $123,900
  • Qualifying Income: $35,191

  • Unemployment Rate: 4.5%
  • Price per Sq. Ft.: $77/sq. ft.
  • Avg Monthly Mortgage Payment: $456


picture of Oklahoma City skyline at night

#1 – Oklahoma City, OK

Key Factors

  • Cost of Living: -1.4% below national average
  • Median Home Price: $142,300
  • Qualifying Income: $33,197

  • Unemployment Rate: 3.8%
  • Price per Sq. Ft.: $99/sq. ft.
  • Avg Monthly Mortgage Payment: $496

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