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Real estate sign indicating sold house

Source: Ryan McVay / Getty

Zillow ranked Cleveland as the fourth best market for first-time home buyers on Wednesday.

Indianapolis and Pittsburg took first and second rankings, respectively.
The following are the factors it used to determine the best markets, according to Zillow.
  • Median home values. Lower home values means buyers need less cash for a down payment to break into the housing market.
  • Affordability. The places where mortgage payments take up a small share of income and rental payments are more unaffordable.
  • Inventory. More homes for sale means it’s easier to find the perfect fit.
  • Cash buyer competition. Fewer all-cash offers mean less competition.

 

To see the rest of the top ten, click here: NewsNet5.com

Article Courtesy of WEWS NewsChannel 5 Cleveland

Picture Courtesy of Getty Images

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