Zillow Ranks Tampa-St. Pete Market No. 1 for First-Time Home Buyers

ST. PETERSBURG, Fla. (April 4, 2019)— For the second consecutive year, Zillow ranked the Tampa-St. Petersburg metro as the number one market for first-time homebuyers.

 Zillow's 2019 Best Markets for First-Time Buyers Analysis ranked the 35 largest U.S. housing markets based on where first-time buyers should have the most success moving into a home they love with a strong forecasted appreciation. First-time buyers make up 46% of all buyers, and more than 6 in 10 of them are Millennials.

TAMPA-ST. PETERSBURG METRO

Population Growth: 1.9%
Share of Listings With Price Cuts: 18.7%
Zillow Home Value Index: $195,200
Breakeven Horizon: 1 year and 11 months
Zillow Home Value Forecast: 3.1%
Inventory: 13,733 homes

Three of the six best markets for first-time home buyers are in Florida with Orlando and Miami joining Tampa-St. Pete  in Zillow's rankings. 

TEN BEST MARKETS FOR FIRST-TIME HOME BUYERS

  1. Tampa, FL
  2. Las Vegas, NV
  3. Phoenix, AZ
  4. Atlanta, GA
  5. Orlando, FL
  6. Miami, FL
  7. Detroit, MI
  8. Dallas, TX
  9. Nashville, TN
  10. Charlotte, NC

The Florida housing market has been topping lists for the best U.S. markets for several years. With its consistently strong economy and low level of employment, the entire state offers home buyers wise investment opportunities. 

Conversely, San Francisco, Seattle, Washington D.C., Los Angeles, and Sacramento pose the greatest challenge for newcomers to the homeownership environment, according to the study. Six of the nine most challenging markets for new home buyers are on the West Coast, where inventory is limited and prices are high.

Ten Most Challenging Markets for First-Time Home Buyers

  1. San Francisco, CA
  2. Seattle, WA
  3. Washington, D.C.
  4. Los Angeles, CA
  5. Sacramento, CA
  6. Minneapolis, MN
  7. Denver, CO
  8. San Diego, CA
  9. San Jose, CA
  10. Boston, MA

Source: Zillow's Best Metros for First Time Home Buyers 2019