Buying that first home is a dream for many millennials. But figuring out where to live, not to mention coming up with a down payment and signing on for a mortgage, can be a nightmarish process.
Luckily a recent Smart Asset survey is giving newbie buyers — who are typically in their early 30s — some much-needed guidance when it comes to which U.S. cities offer the biggest advantages when it comes to housing affordability and the chances of getting a mortgage, among other metrics.
So where do you get the best bang for your real estate buck? According to the survey, that would be Pittsburgh.
This tech and health-care urban hub earned the honor thanks to its not-too-pricey housing stock and the city’s high loan funding rate — meaning that conventional mortgage loans have become more accessible. Here's who else made the list.
Best Cities for First-Time Home Buyers
2. Oklahoma City
3. Omaha, Nebraska
5. Tulsa, Oklahoma
7. San Antonio
8. Wichita, Kansas
9. Louisville, Kentucky
Hoping to hit that home-ownership milestone soon? This list can help guide your decision for where to look. But don’t forget to take into account other factors — such as cities where your paycheck goes the farthest and where your outlay gets the highest return on investment.