Best in Texas™: Austin Ranked Number 1 in Texas and number 5 in US Best City for First Time Buyers by ALEX.realestate

ALEX Labs and ALEX Studios just published analysis and a summary of Zillow‘s “10 Best Markets For First-Time Home Buyers in 2024.” Austin ranked #1 in Texas and #5 in the US.

Zillow’s Consumer Housing Trends Report reveals first-time home buyers accounted for half of all purchases last year. Zillow identifies 2024’s best markets for first-time buyers, emphasizing affordability, availability, and competition levels. Metrics include rent affordability, mortgage affordability, inventory ratios, and the concentration of households aged 29-43.

ZILLOW’S CRITERIA

Zillow’s 2024 list of the best markets for first-time buyers is based on four metrics: 

• Rent affordability, as defined by the share of median household income spent on rent.
• The share of available inventory on Zillow that the median household can comfortably afford, meaning spending no more than 30% of income on the estimated monthly mortgage cost.  
• The ratio of affordable for-sale inventory to renter households. More inventory per renter household is an indicator of less competition for each listing. 
• The share of households age 29-43. More households of similar age means a higher score in Zillow’s ranking. 

ALEX REAL ESTATE STAT PACKS

Get any or all Stat Packs

ALEX Studios currently publishes over 45 Stat Packs in the Greater Austin area including the city of Austin. If you are interested in an area we are not currently publishing, or if you have any questions, contact me. I’m always available! Diane

ALEX knows more about the greater Austin area than just about anybody.

If you have any questions, I am always here. Just call, text or email me.

Diane Hart Alexander, MBA, MHA, CEO, Broker
Alexander Tiffany Southwest dba ALEX.realestate
v 713.591.9902
e diane@alex.realestate

Are you an Agent or Broker in Austin? 

This is NOT a large number of agents game for us. For example, in Greater Austin we will accept up to 50 agents and/or brokers.

Do you want to work with a Broker in the top 2% of Zillow globally who is willing to help you with farming area targeting, lead generation, lead nurturing and lead conversion?

Would you like to be armed with the best and most powerful tools including Stat Packs and 1 Minute Tours?  

Want to know more about ALEX or ALEX Partner positions?

Contact me! Diane