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Markets like Wichita, KS offer an inventory to buyer ratio of 22 to 1 with price reductions in 22% of all listings, Zillow reports. Similarly, in Toledo, OH, homeowners are required to dish out just 26% of their incomes to afford the typical mortgage payment, and 15 years are needed to save for a 10% down payment (at 2.4%
Wichita, KS tops Zillow’s list of the best markets for first-timers with a 22 to 1 inventory to buyer ratio and price reductions in 22% of regional listings. Following closely behind is Toledo, OH, where the typical rent payment accounts for an average 29% of tenants’ income and 23% of listings are currently seeing price cuts. .
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