Zillow’s latest report on the Best Markets for First-Time Homebuyers analyzed more than “just” home prices. Zillow also factored in home value, home appreciation, wealth and inventory.

“Becoming a homeowner for the first time is easier in some markets than others – and the difference is not strictly about home prices…strong inventory and lower competition for listings also make a difference – as does the market outlook.

When reading Zillow’s below latest 10 Most Affordable Housing Markets, keep in mind that the median age of a first-time homebuyer is 34, 11.7% of younger (below 36 years) buyers pay with cash, and that 44.2% younger buyers buy in urban setting, 41.9% buy in suburban settings and 13.8% of younger buyers buy in rural settings, according to Zillow Group’s latest Consumer Housing Trends Report.

  1. Tampa
    1. Median home value = $213,600
    2. 24% of listings experienced a price cut
  2. Las Vegas
    1. Median home value = $277,900
    2. 9% of listings experienced a price cut
  3. Phoenix
    1. Median home value = $264,900
    2. 20% of listings experience a price cut
  4. Atlanta
    1. Median home value = $217,500
    2. 9% of listings experienced a price cut
  5. Orlando
    1. Median home value = $237,100
    2. 3% of listings experienced a price cut
  6. Miami
    1. Median home value = $283,800
    2. 6% of listings experienced a price cut
  7. Detroit
    1. Median home value = $160,000
    2. 5% of listings experienced a price cut
  8. Dallas
    1. Median home value = $242,600
    2. 7% of listings experienced a price cut
  9. Nashville
    1. Median home value = $253,500
    2. 9% of listings experienced a price cut
  10. Charlotte
    1. Median home value – $206,200
    2. 4% of listings experienced a price cut