10 Best Places for First-Time Homebuyers in 2024

Gabrielle Olya

June 7, 2024 at 5:00 p.m.·4 min read

Purchasing a home has been especially difficult for first-time buyers in recent years thanks to rising prices, increasing mortgage rates and a lack of inventory. Although 2024 is anticipated to still be a challenging year, there are some great opportunities for first-time buyers, especially those with some flexibility on location.

Check Out: Don’t Buy a House in These 3 Cities Facing a ‘Climate Change Real Estate Bubble’

Try This: Become a Real Estate Investor for Just $1K Using This Bezos-Backed Startup

To find the best markets for first-time homebuyers, Realtor.com analyzed 2,738 cities across a number of factors including affordability, the share of 25- to 34-year-olds in the local population, availability of homes for sale, job opportunities, average commute time to work, amenities, and forecasted metro home sales and home price growth in 2024. Based on the analysis, these are the top 10 markets for first-time homebuyers in 2024.

Alexphotographic / Getty Images/iStockphoto

10. Riviera Beach, Maryland

Forecasted 25- to 34-year-old population share: 10.9%
Inventory per 1,000 households: 59.3
Median listing price: $264,079
Price-to-income ratio: 2.7
Forecasted average travel time to work (minutes): 33

Pictured: Baltimore

Expert Advice: Barbara Corcoran: 3 Cities To Invest in Real Estate Now Before Prices Skyrocket

Be Aware: 10 Dangerous Cities You Shouldn’t Buy a Home in No Matter the Price

Wealthy people know the best money secrets. Learn how to copy them.

DenisTangneyJr / Getty Images/iStockphoto

9. Mattydale, New York

Forecasted 25- to 34-year-old population share: 7.4%
Inventory per 1,000 households: 31.6
Median listing price: $138,450
Price-to-income ratio: 2.0
Forecasted average travel time to work (minutes): 20

Pictured: Syracuse, New York

Learn More: 5 Midwest Cities Where You Can Buy Luxury Homes For $100,000 or Less

8. Moore, Oklahoma

Forecasted 25- to 34-year-old population share: 9.7%
Inventory per 1,000 households: 43.6
Median listing price: $231,475
Price-to-income ratio: 3.2
Forecasted average travel time to work (minutes): 26

Pictured: Oklahoma City

7. Grand Rapids, Michigan

Forecasted 25- to 34-year-old population share: 9.5%
Inventory per 1,000 households: 33.1
Median listing price: $260,000
Price-to-income ratio: 4.3
Forecasted average travel time to work (minutes): 21

6. Cheektowaga, New York

Forecasted 25- to 34-year-old population share: 7.2%
Inventory per 1,000 households: 26.6
Median listing price: $199,000
Price-to-income ratio: 3.1
Forecasted average travel time to work (minutes): 21

Pictured: Buffalo, New York

Find Out: I’m a Real Estate Investor: 10 Places I Would Never Buy Property

5. Council Bluffs, Iowa

Forecasted 25- to 34-year-old population share: 6.4%
Inventory per 1,000 households: 37.6
Median listing price: $200,000
Price-to-income ratio: 3.0
Forecasted average travel time to work (minutes): 21

4. Newington, Connecticut

Forecasted 25- to 34-year-old population share: 6.6%
Inventory per 1,000 households: 37.8
Median listing price: $290,294
Price-to-income ratio: 3.4
Forecasted average travel time to work (minutes): 23

Pictured: Hartford, Connecticut

3. Winterset, Iowa

Forecasted 25- to 34-year-old population share: 7.3%
Inventory per 1,000 households: 47.8
Median listing price: $269,400
Price-to-income ratio: 4.0
Forecasted average travel time to work (minutes): 23

Be Aware: 5 Types of Homes That Will Plummet in Value in 2024

2. Benton, Arkansas

Forecasted 25- to 34-year-old population share: 7.6%
Inventory per 1,000 households: 50.2
Median listing price: $197,500
Price-to-income ratio: 3.0
Forecasted average travel time to work (minutes): 25

Pictured: Bentonville, Arkansas

1. Irondequoit, New York

Forecasted 25- to 34-year-old population share: 8.2%
Inventory per 1,000 households: 34.1
Median listing price: $187,000
Price-to-income ratio: 2.5
Forecasted average travel time to work (minutes): 22

Pictured: Rochester, New York

All data is sourced from Realtor.com’s Best Markets for First-Time Homebuyers in 2024 and is accurate as of Jan. 16, 2024.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: 10 Best Places for First-Time Homebuyers in 2024

Robb Report
A $39 Million Oceanfront Mansion Just Set a Sales Record For This South Florida Community
The fixer-upper in the Gulf Stream enclave sits on over two acres of land with 200 feet of ocean frontage.
The Canadian Press
On Quebec's traditional moving day, hundreds of renters are still looking for a home
MONTREAL — It’s moving day in Quebec, and Mario Lortie is leaving his apartment of 27 years. It’s not by choice. His new landlords, who recently bought the Montreal duplex where he lives, want to convert the building into a single home, so Lortie got the boot. The problem is he has nowhere to go. The 62-year-old former social worker lives on welfare due to health problems, and was paying just $535 a month in rent. After a fruitless search for another apartment he could afford, Lortie turned to a
Rock Hill Herald
If you think the water views at this $2M SC island home are amazing, check out the inside wood work
Do you think the water views at this $2 million South Carolina island home are amazing? Take a look at the inside wood work.
People
Kylie Jenner’s Former Malibu Rental Lists for $35 Million — See Inside!
The oceanfront home — which was also previously owned by Yolanda Hadid — was rented by the Kylie Cosmetics founder for $450,000 a month
CBC
This year's moving day marked by high eviction numbers
Quebecers are used to moving on July 1 — when most leases end — but moving companies are seeing that change due to a high number of evictions and unit repossessions.Pierre-Olivier Cyr, co-owner of one of Quebec's largest moving companies, Le Clan Panneton, says his business was only booked at half capacity Monday because most people have been moving in the few days before or after instead.He says it's because landlords who evict their tenants have to pay for their moving expenses and want to avo
GOBankingRates
I’m a Real Estate Agent: 3 Reasons I’m Optimistic About the Market in Summer 2024
In some respects, the real estate market in the US has been on a roll in recent years, with housing prices rising by around 15% over the past three years, according to Redfin data. Yet at the same...
Robb Report
A Celebrity Hairstylist Trims Her Real Estate Portfolio, Listing a $3 Million Home in the Hamptons
The Butterfly House, built in 1976 and located in the tony enclave of East Hampton, is listed by A-list hairdresser Sally Hershberger.
GOBankingRates
Which Billionaires Own the Most Homes?
While the dream of homeownership may seem out of reach for many Americans lately -- due to a combination of factors such soaring mortgage rates, low inventory and high prices -- for the ultra-rich, it’s never been a problem.
Moneywise
Charlie Munger once called real estate a 'very lousy investment' for him and his partner Warren Buffett — here's why
Buffett revealed when they "missed the boat" on real estate.
GOBankingRates
Experts: 3 Great Cities for Wealth-Building Opportunities
America's cities are filled with stories of entrepreneurs and businesses building wealth throughout history. Today, the U.S. holds 32% of the world's liquid investable wealth, totaling $67 trillion,...
Fortune
Homeowners are sitting on a record amount of equity, driving a shift toward more expensive homes, top economist says
“They are able to navigate these higher prices without as much of a ramification,” Realtor.com’s chief economist recently said.
KERO - Bakersfield Scripps
New law makes changes to security deposits
July 1st California's assembly bill-12 tenancy: security deposits changes how apartment complexes charge. We talked with someone in Bakersfield struggling to find a decent price for a apartment.
HuffPost
New Poll Finds 1 Democrat Absolutely Trouncing Trump
Just one problem: This person doesn't seem interested in running, should the opportunity arise.
CBC
Teen who killed sister and friend in a crash 'devastated' by her actions, judge hears
A teenager who crashed a BMW SUV while driving 190 km/h, causing the deaths of her sister and a friend, was sentenced Tuesday during an emotional hearing that saw many in the courtroom, including the judge and lawyers, struggle to contain their emotions. The girl, who was 16 years old at the time of the incident, will spend two years on probation under conditions that include community service. She is also prohibited from driving for five years. A Calgary court heard that four teens were in the
HuffPost
Harvard Law Professor Delivers Chilling Prediction After Trump Immunity Ruling
Laurence Tribe explained what the Supreme Court decision means in "practical purposes" and it's "devastating."
HuffPost
Tyranny Expert Sums Up A Donald Trump Win With 2 Ominous Words
Timothy Snyder succinctly predicted what will happen “unless Trump loses.”
The Daily Beast
Opinion: Jill Biden’s ‘Vogue’ Cover Was Embarrassing But Ironic
Usually, a first lady looking radiant on the cover of Vogue is a PR coup for any presidential administration and a carefully-cultivated statement for a magazine that primarily covers fashion but also insists on its seriousness and depth.There have been some huge, unenforced errors in first lady features–profiling Asma al-Assad as a cosmopolitan “rose in the desert” as her dictator husband slaughtered thousands of Syrian civilians may have been the biggest–but generally, respected first lady + ta
HuffPost
Donald Trump Book Author Reveals Most ‘Disturbing’ Debate Moment, And It Wasn’t Biden
It meant “we didn’t get to the see the real Donald Trump,” said “Apprentice in Wonderland” writer Ramin Setoodeh.
The Daily Beast
Daughter, Zara Tindall, ‘Shaken to the Core’ by Princess Anne’s Amnesia
Zara Tindall has been left “shaken to the core” by her mother Princess Anne’s mystery encounter with a horse which left her with a brain injury that has resulted in amnesia, according to a report.OK! Magazine says that Zara, 43, has been left freaked out by the incident which saw Anne, 73, also known as The Princess Royal, struck by a horse while she was out walking, alone, on Sunday, June 23, at her home, Gatcombe Park, in the Cotswolds.She was treated at the scene and then hospitalized for fiv
Cosmopolitan
Jennifer Lopez and Ben Affleck Are Selling “Prized Possessions” Amid Divorce Speculation
Jennifer Lopez and Ben Affleck are reportedly selling their prized possessions amid reports that divorce is imminent.

S&P/TSX

S&P 500

DOW

CAD/USD

CRUDE OIL

Bitcoin CAD

CMC Crypto 200

GOLD FUTURES

RUSSELL 2000

10-Yr Bond

NASDAQ futures

VOLATILITY

FTSE

NIKKEI 225

CAD/EUR

STOCK FUTURES TREAD WATER AFTER S&P 500'S RECORD CLOSE