These are the top 10 markets for first-time homebuyers

Bloomington, Illinois is the best place to settle down for first-time buyers

Bloomington, Illinois, located approximately 130 miles southwest of Chicago, is the best place to settle down for first-time homeowners, according to a new report.  

The area was dubbed the top spot for first-time buyers, offering not only an abundance of affordable homes but also job opportunities as well as a "good mix of amenities," according to

The real estate listings website compiled a list of the best marketplaces for potential new homeowners, namely millennials, amid an unprecedented "tight spring home-buying season." 

CLICK HERE TO READ MORE ON FOX BUSINESS senior economic research analyst Sabrina Speianu projected that this upcoming season will be a challenge for such buyers who will effectively be competing with "equity-rich existing homeowners, second-home buyers, and investors" for a short supply of homes. 

Home For sale  (iStock)

Not only is there a "shrinking supply of existing homes for sale but there is also a "lower supply of newly constructed homes compared to historical norms." 

To help, the site ranked 744 cities based on "key guiding criteria that a first-time home buyer may want to consider when choosing to potentially relocate in the search for greater affordability or a larger space." 


The top ten markets span the country from Savannah, Georgia, to Rapid City, South Dakota. 

Here are’s top 10 markets for first time homebuyers for this spring season: 

  1. Bloomington, Illinois
  2. Iowa City, Iowa
  3. Kalamazoo Michigan
  4. Great Falls, Montana
  5. Eau Claire, Wisconsin
  6. Savannah, Georgia
  7. Schenectady, New York
  8. Taylorsville, Utah
  9. Harrisonburg, Virginia
  10. Rapid City, South Dakota