If you can afford to buy a home in this economy, here is great news!
Oklahoma City is the sixth-best market in the nation for first-time homebuyers, according to real estate and rental marketplace website Zillow.
The report, released last week, studied four variables: affordability (percent of income going toward rent or mortgage payments), median home values, competition among all-cash offers and how many homes in the market are available to first-time buyers.
Oklahoma’s median home value is $132,500. Also, 25.6 percent of income goes toward rent, home inventory is average and all-cash competition is average.
The top five cities deemed most friendly to first-time homeowners are Indianapolis, Pittsburgh, Memphis, Cleveland and Chicago.
Print headline: We’re No. 6!
