The Brief
- WalletHub ranked Palm Bay, Florida as the best U.S. city for first-time homebuyers due to its abundant housing inventory, strong millennial homeownership, and 107% home value growth from 2018–2024.
- Surprise and Gilbert, Arizona rounded out the top three, earning high marks for new housing supply, safety, affordability, and strong job markets.
- The rankings come as first-time buyers face rising affordability challenges, with higher home prices and mortgage rates.
As home prices and mortgage rates continue to challenge aspiring homeowners, new data is identifying the cities offering the best opportunities for first-time buyers.
WalletHub, a personal finance website, compared 300 U.S. cities across 22 metrics measuring housing affordability, market attractiveness and quality of life. Factors included cost of living, real estate taxes, crime rates and housing inventory.
Palm Bay, Florida ranked best city for first-time home buyers
Big picture view:
Palm Bay, Florida, earned the No. 1 ranking thanks to its abundant housing inventory, with one of the nation’s highest rates of active home listings and new building permits per capita.…