While buying a home may seem like a daunting process in your 20s or even early 30s, it's more than possible — if you know where to look.
In a recent report, SmartAsset.com determined the best U.S. cities for first-time homebuyers. The site ranked every U.S. city with a population of over 300,000 based on seven metrics: the number of mortgage lenders, loan funding rate, value per square foot of home, affordability ratio (the ratio of median household income to ownership costs), homeowner stability, market volatility and the number of quarters since 2010 that home prices declined. You can read the full methodology in the report.
According to the findings, first-time homeowners will get the best buys in Oklahoma and Texas — six of the top 15 cities are in these two states.
#13. Arlington, Texas
Loan funding rate: 73%
Average price per square foot of home: $82
Average monthly mortgage payment: $529
Median household income: $57,727
#10. Fort Worth, Texas
Loan funding rate: 73%
Average price per square foot of home: $76
Average monthly mortgage payment: $529
Median household income: $57,727
#10. Dallas
Loan funding rate: 70%
Average price per square foot of home: $91
Average monthly mortgage payment: $490
Median household income: $49,925