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Indianapolis Named Best Place for First-Time Home Buyers

Zillow research shows that first-time buyers in Indianapolis will have a good selection of homes to choose from and not too much competition. Indianapolis is the best market for first-time home buyers right now, according to Zillow’s latest analysis. To determine the list, Zillow looked at: Median home values. Lower home values means buyers need less cash for a down payment to break into the housing market. Affordability. Inventory. Cash buyer competition. The median home value in Indianapolis is $130,200, and buyers can expect to spend 11 percent of their monthly income on a mortgage payment, which is incentive to become a homeowner in Indianapolis. Salt Lake City is the toughest place for first-time home buyers, followed by Washington, D.C. and New York. Unfortunately, when they start looking for a home, they’ll find high prices and not many options.