Austin’s housing market tied for 40th among the 50 largest U.S. metro areas in terms of homeowner friendliness, an analysis by the online loan marketplace LendingTree found.
The study rated the largest U.S. metro areas based on homeowner-friendly statistics. These included good scores on average down payment amounts, down payment percentages, share of buyers using Federal Housing Administration (FHA) loans and the percentage of homeowners who spend 30% or more of their monthly income on housing.
Other Texas cities on the list are San Antonio, which was tied for 23rd; Houston, 33rd; and Dallas, 37th, LendingTree reported.Â
In Austin, the study found that the average down payment for a home was $61,728. The average down payment percentage for Austin was 14.2, while only 5.8% of the buyers have FHA mortgages and 26.2% of them are paying 30% or more of their income on housing.Â
FHA mortgages help lower-income homeowners in affluent areas because the loans require smaller down payments, according to LendingTree.
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Best Large Metros for First-time Homebuyers
| Rank | Metro | Average Down Payment Amount | Average Down Payment % | % of Buyers With Credit Scores Below 680 | % of Buyers With an FHA Mortgage | Share of Households Spending 30% or More of Their Income on Housing |
| 1 | Kansas City, MO | $30,219 | 10.10% | 21.10% | 10.20% | 20.70% |
| 2 | Oklahoma City, OK | $28,777 | 10.70% | 20.80% | 11.60% | 22.60% |
| 3 | Louisville, KY | $46,375 | 13.00% | 20.50% | 10.10% | 21.70% |
| 4 | St. Louis, MO | $48,377 | 13.30% | 21.30% | 10.20% | 21.90% |
| 5 | Salt Lake City, UT | $43,365 | 10.40% | 15.40% | 10.60% | 24.00% |
| 6 | Memphis, TN | $49,933 | 14.40% | 27.30% | 14.40% | 25.50% |
| 7 | Cleveland, OH | $44,680 | 13.10% | 19.00% | 9.20% | 23.70% |
| 8 | Birmingham, AL | $45,685 | 15.20% | 22.50% | 11.40% | 23.60% |
| 9 | Richmond, VA | $45,732 | 12.80% | 17.50% | 10.60% | 25.30% |
| 10 | Atlanta, GA | $51,794 | 12.80% | 18.70% | 9.80% | 25.10% |
| 11 | Baltimore, MD | $55,664 | 12.60% | 17.70% | 13.70% | 26.30% |
| 12 | Las Vegas, NV | $52,216 | 13.10% | 24.00% | 11.30% | 30.70% |
| 13 | Detroit, MI | $43,491 | 13.80% | 18.00% | 8.70% | 23.70% |
| 14 | Columbus, OH | $44,878 | 15.00% | 18.10% | 9.00% | 21.30% |
| 15 | Raleigh, NC | $47,220 | 12.60% | 11.50% | 6.70% | 19.90% |
| 16 | Portland, OR | $53,864 | 12.40% | 11.30% | 14.90% | 28.80% |
| 17 (Tie) | Jacksonville, FL | $52,418 | 14.30% | 20.10% | 10.20% | 27.30% |
| 17 (Tie) | Providence, RI | $59,906 | 12.30% | 17.80% | 12.20% | 30.20% |
| 19 | Indianapolis, IN | $56,377 | 15.50% | 19.00% | 9.40% | 19.70% |
| 20 | Virginia Beach, VA | $54,961 | 14.80% | 24.00% | 12.30% | 30.30% |
| 21 | Cincinnati, OH | $51,464 | 16.60% | 18.00% | 9.90% | 20.60% |
| 22 | Pittsburgh, PA | $46,763 | 14.30% | 13.90% | 7.40% | 20.70% |
| 23 (Tie) | San Antonio, TX | $59,368 | 14.10% | 20.10% | 9.60% | 26.70% |
| 23 (Tie) | Tampa, FL | $48,322 | 13.40% | 18.30% | 8.90% | 30.20% |
| 25 (Tie) | Buffalo, NY | $40,568 | 14.10% | 9.30% | 5.00% | 20.40% |
| 25 (Tie) | Nashville, TN | $62,288 | 15.00% | 17.20% | 14.00% | 23.80% |
| 27 | Sacramento, CA | $70,272 | 12.60% | 14.10% | 19.80% | 33.00% |
| 28 | Philadelphia, PA | $54,337 | 13.20% | 15.90% | 9.20% | 28.90% |
| 29 | Orlando, FL | $52,703 | 14.10% | 18.90% | 9.20% | 30.80% |
| 30 | Milwaukee, WI | $51,952 | 14.20% | 14.20% | 6.90% | 24.20% |
| 31 | New Orleans, LA | $67,875 | 15.00% | 21.70% | 11.20% | 30.20% |
| 32 | Phoenix, AZ | $59,571 | 15.10% | 18.20% | 9.90% | 26.80% |
| 33 | Houston, TX | $57,909 | 14.40% | 17.10% | 8.40% | 26.20% |
| 33 | Washington, DC | $84,722 | 14.80% | 11.30% | 18.60% | 26.60% |
| 35 | Riverside, CA | $70,983 | 16.20% | 18.20% | 18.50% | 39.00% |
| 36 | Minneapolis, MN | $64,804 | 16.20% | 15.00% | 7.00% | 21.30% |
| 37 | Dallas, TX | $64,518 | 15.00% | 15.90% | 8.00% | 26.00% |
| 38 | Seattle, WA | $93,010 | 14.90% | 9.30% | 18.50% | 29.10% |
| 39 | Hartford, CT | $70,245 | 13.70% | 13.70% | 7.60% | 28.00% |
| 40 (Tie) | Charlotte, NC | $66,575 | 16.10% | 14.40% | 6.60% | 22.90% |
| 40 (Tie) | Austin, TX | $61,728 | 14.20% | 10.40% | 5.80% | 26.20% |
| 40 (Tie) | Denver, CO | $93,548 | 16.60% | 10.70% | 15.90% | 26.40% |
| 43 | Boston, MA | $75,875 | 15.50% | 9.90% | 15.30% | 30.10% |
| 44 | Los Angeles, CA | $101,203 | 14.40% | 9.30% | 23.80% | 42.20% |
| 45 | Chicago, IL | $57,529 | 14.70% | 13.30% | 6.70% | 29.90% |
| 46 | Miami, FL | $61,319 | 13.70% | 14.90% | 6.60% | 40.70% |
| 47 | San Diego, CA | $115,895 | 18.90% | 9.50% | 24.30% | 39.20% |
| 48 | San Francisco, CA | $151,248 | 16.20% | 5.60% | 18.30% | 35.60% |
| 49 | San Jose, CA | $156,816 | 16.30% | 5.10% | 16.80% | 34.10% |
| 50 | New York, NY | $91,453 | 16.50% | 7.20% | 11.60% | 39.10% |
Source: LendingTree
