LendingTree has come out with their annual rankings of the best areas for first-time homebuyers
They looked at a variety of factors including average down payment, share of buyers utilizing FHA loans and more
Best
1.Kansas City, MO
2.Oklahoma City, OK
3.Louisville, KY
4.St. Louis, MO
5.Salt Lake City, UT
6.Memphis, TN
7.Cleveland, OH
8.Birmingham, AL
9.Richmond, VA
10.Atlanta, GA
As for the worst metro area to buy a home.... it's New York City, where the average home downpayment is $91,453.(And the home is probably half the size.)
Worst
1. New York, NY
2. San Jose, CA
3. San Francisco, CA
4. San Diego, CA
5. Miami, FL
6. Chicago, IL
7. Los Angeles, CA
8. Boston, MA
10. Denver, CO (tie)
10. Charlotte, NC (tie)
10. Austin, TX (tie)