WASHINGTON – Houston has ranked tenth on the American Enterprise Institute (AEI) Housing Center's list of the best metro areas for first-time homebuyers (FTB) in 2019.
AEI ranked the 50 largest metros using the ratio of home prices to income for each individual FTB.
Last year, Houston had a median FTB home price of $238,000. Its FTB gross annual income was $78,000. This gives the metro a 3.0 affordability ratio.
No. 13 San Antonio, No. 19 Dallas, and No. 25 Austin had FTB affordability ratios of 3.1, 3.3, and 3.4, respectively.
Pittsburgh ranked first with an FTB affordability ratio of 2.5.
The Real Estate Center has a wealth of economic information online for free.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.