Purchasing your first home is one of life’s most exhilarating milestones. It’s a journey filled with dreams, decisions, and the prospect of turning a key in a lock that opens the door to your very own place. However, with soaring prices, the home-buying process can seem a bit intimidating. A recent National Association of Realtors report highlights these challenges, revealing that first-time buyers made up only 32% of all home purchases from July 2022 to June 2023—a low not seen in four decades. Recognizing the challenges and excitement this milestone can bring, ConsumerAffairs has created an insightful guide to the top metros in the United States for first-time buyers in 2024.

ConsumerAffairs ranked 153 metros to find the ideal places that cater to the first-time buyer. Each metro area was ranked based on nine factors (50% finances and 50% quality of life). These include the cost of buying a home, changes in home values, crime rates, unemployment, and climate, among others. The top five metros offer a promising mix of affordable housing, low crime rates, and other lifestyle benefits.

The Top 5 Best Metro Areas for First-Time Homebuyers

1. Raleigh-Cary, NC
2. Provo-Orem, UT
3. Naples-Marco Island, FL
4. Oxnard-Thousand Oaks-Ventura, CA
5. Cape Coral-Fort Myers, FL

Raleigh-Cary, North Carolina, took the top spot for first-time buyers, with Provo-Orem, Utah, boasting the highest financial friendliness score and Oxnard-Thousand Oaks-Ventura, California, leading in quality of life. The top 20 list includes metros from every U.S. region, with Florida and California particularly noted for their hospitable environments for first-time purchasers.

The Top 5 Worst Metro Areas for First-Time Homebuyers

1. Anchorage, AK
2. Lubbock, TX
3. Memphis, TN-MS-AR
4. Rockford, IL
5. Stockton, CA

Advice for First-Time Buyers

First-time buyers should prepare for their home purchase by maximizing credit scores and obtaining preapproval for loans. Expanding search areas, considering new construction, and exploring fixer-uppers are ways to make homeownership more attainable.

Learn more about ConsumerAffairs’ findings here.