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CLEVELAND, OH (WOIO) –

Cleveland ranked number four on Zillow’s list of best markets for first-time home buyers, falling just below Indianapolis, Pittsburgh and Memphis.

Zillow’s study looked at median home values, affordability, the number of homes for sale and cash buyer competition.

They found that Cleveland had a high number of homes available, with an average cost of $125,500. Buyers can expect to spend about 11 percent of their income on mortgage payments, compared to about 26.2 percent of their income on rent. There is high cash buyer competition, though, which can make it harder to land your dream home.

 

READ MORE: Cleveland19.com

Article Courtesy of WOIO Cleveland 19 News

Picture Courtesy of Getty Images

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