Where to Buy

Fort Worth ranks among best markets for first-time homebuyers

Fort Worth ranks among best markets for first-time homebuyers

Fort Worth Home for Sale
This is the time to buy in Fort Worth. Photo courtesy of RE/MAX Trinity

Looks like Fort Worth residents in the market for their first home have chosen the right time to buy. The city has been named one of the best for first-timers.

A new report from SmartAsset ranks Fort Worth 11th among the best cities for first-time homebuyers in 2018, just narrowly missing the top 10. (The 10th spot is taken by Dallas.)

The finance company looked at seven factors to determine where first-time homebuyers should put down roots: number of HUD-approved lenders, loan funding ratio, average price per square foot, affordability ratio, stability score, price variance, and number of negative quarters from 2012-2017. 

With 56 HUD-approved mortgage lenders, Fort Worth buyers should have little trouble shopping for a mortgage. Fort Worth also boasts a price per square foot of only $94.42 and a loan approval rate of 71 percent. 

Nearby Arlington comes in at a respectable No. 14 on the list. It also enjoys a loan approval rate of 71 percent, and the price per square foot is $102.83.

Texas is home to three of SmartAsset's 10 best markets for first-time buyers, with Houston at No. 4, San Antonio at No. 7, and Dallas at No. 10. H-Town boasts the highest number of HUD-approved lenders, while the Alamo City is celebrated for its affordability and Dallas is deemed a safe place to invest.

Three other Texas cities appear on the finance site's full list of 25: Corpus Christi (16), El Paso (20), and Austin (24).