Best Metros for First-Time Buyers in 2025: Your Path to Homeownership

As home prices and mortgage rates continue to pose challenges for first-time buyers, some U.S. metro areas stand out as more accessible entry points into homeownership. According to a recent report by Redfin, several cities offer a rare combination of affordable housing prices and favorable income-to-payment ratios, making them prime candidates for aspiring homeowners.

🐷 RSL Piggy Points:

• Detroit, MI: Median home price of $180,950 — just 22.8% of median income needed for mortgage payments.

• Cleveland, OH: $227,000 median home price with a 26.2% income-to-payment ratio.

• Rochester, NY: Median price of $230,750, making it a top contender for affordability.

• Pittsburgh, PA: $235,000 median home price with a 24.6% income allocation — well below the national average.

• St. Louis, MO: At $263,850, first-time buyers only need 25.1% of their income to cover mortgage costs.

  
  

RSL Perspective:

"In today's market, first-time buyers need to be strategic and informed," says Neil Caron, Area Manager at CMG Mortgage. "Cities like Cleveland and Pittsburgh offer more than just affordability — they provide stability in uncertain economic times. Homebuyers who can relocate or work remotely may find these markets to be hidden gems with long-term potential."

"It's not just about buying a home; it's about securing a financial future," adds Caron. "For buyers who missed out in the booming markets, these cities offer a second chance to build equity without overextending their budgets.""For first-time buyers feeling priced out of coastal markets, these metro areas offer a much-needed lifeline," says Neil Caron, Area Manager at CMG Mortgage. "With lower home prices and more reasonable income-to-payment ratios, these cities provide a viable path to homeownership — especially for those able to work remotely or those looking to retire affordably."

Why These Markets Stand Out

In cities like Detroit and Cleveland, home prices remain significantly below the national median of approximately $431,000. According to Redfin Chief Economist Daryl Fairweather, these markets often lack the high-paying jobs seen in coastal cities but offer more purchasing power for those willing to relocate.

"While home prices have risen in these regions, they remain far more affordable than in cities like New York or San Francisco," Fairweather explains. "That affordability can make all the difference for first-time buyers."

ReadySetLoan: Your Educational Partner in Homeownership

Navigating the housing market as a first-time buyer can feel daunting, but that's where ReadySetLoan comes in. From understanding affordability metrics to exploring loan options, ReadySetLoan is your resource guide to making smart, informed decisions. Visit ReadySetLoan to learn more about how you can take the first steps toward homeownership in 2025.

Call to Action:

Thinking about buying your first home? Connect with ReadySetLoan today to explore affordable options in emerging metro markets. Let ReadySetLoan be your educational partner on the path to homeownership. Visit ReadySetLoan for more insights and resources.

www.ReadySetLoan.com