Here are the 17 best cities for first-time homebuyers

Zillow, a leading real estate and rental marketplace, has put out a list of the top housing markets for first-time homebuyers.

"These markets have more favorable conditions for first-time buyers to become homeowners. More challenging metros aren't out of reach for new buyers, but they should be prepared to face a more competitive buying environment," said Zillow Chief Economist Dr. Svenja Gudell.

The rankings are based on Zillow Real Estate Research's housing data and research covering more than 450 markets.

Here's the list of first-time homebuyers' best housing markets:

18 PHOTOS
The best cities for first-time buyers
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The best cities for first-time buyers

17. Riverside, CA

Breakeven Horizon 1Q 2017: 2 years, 5 months

Inventory: 14,462

Households: 1,343,526

Annual Forecasted Home Value Appreciation: 3.8%

Share of Listings with a Price Cut: 13.4%

Source: Zillow

Photo credit: Getty 

16. Philadelphia, PA

Breakeven Horizon 1Q 2017: 2 years, 7 months

Inventory: 26,597

Households: 2,233,752

Annual Forecasted Home Value Appreciation: 2.3%

Share of Listings with a Price Cut: 17.3%

Source: Zillow

Photo credit: Getty

15. Houston, TX

Breakeven Horizon 1Q 2017: 2 years, 4 months

Inventory: 24,960

Households: 2,292,992

Annual Forecasted Home Value Appreciation: 1.5%

Share of Listings with a Price Cut: 17.9%

Source: Zillow

Photo credit: Getty 

14. St. Louis, MO

Breakeven Horizon 1Q 2017: 2 years, 4 months

Inventory: 12,373

Households: 1,108,303

Annual Forecasted Home Value Appreciation: 1.5%

Share of Listings with a Price Cut: 15.0%

Source: Zillow

Photo credit: Getty 

13. Kansas City, MO

Breakeven Horizon 1Q 2017: 1 year, 8 months

Inventory: 6,616

Households: 814,092

Annual Forecasted Home Value Appreciation: 2.9%

Share of Listings with a Price Cut: 11.6%

Source: Zillow

Photo credit: Getty 

12. Chicago, IL

Breakeven Horizon 1Q 2017: 2 years, 3 months

Inventory: 37,367

Households: 3,470,993

Annual Forecasted Home Value Appreciation: 2.6%

Share of Listings with a Price Cut: 16.7%

Source: Zillow 

Photo credit: Getty

11. Cincinnati, OH

Breakeven Horizon 1Q 2017: 1 year, 9 months

Inventory: 6,160

Households: 832,607

Annual Forecasted Home Value Appreciation: 2.7%

Share of Listings with a Price Cut: 14.2%

Source: Zillow 

Photo credit: Getty 

10. Cleveland, OH

Breakeven Horizon 1Q 2017: 1 year, 11 months

Inventory: 10,045

Households: 849,475

Annual Forecasted Home Value Appreciation: 1.8%

Share of Listings with a Price Cut: 14.1%

Source: Zillow

Photo credit: Getty

9. Dallas-Fort Worth, TX

Breakeven Horizon 1Q 2017: 1 year, 8 months

Inventory: 16,331

Households: 2,479,995

Annual Forecasted Home Value Appreciation: 4.4%

Share of Listings with a Price Cut: 13.7%

Source: Zillow

Photo credit: Getty 

8. Detroit, MI

Breakeven Horizon 1Q 2017: 1 year, 7 months

Inventory: 13,919

Households: 1,674,251

Annual Forecasted Home Value Appreciation: 3.2%

Share of Listings with a Price Cut: 12.7%

Source: Zillow

Photo credit: Getty 

7. Atlanta, GA

Breakeven Horizon 1Q 2017: 1 year, 9 months

Inventory: 28,888

Households: 2,028,705

Annual Forecasted Home Value Appreciation: 3.1%

Share of Listings with a Price Cut: 12.4%

Source: Zillow

Photo credit: Getty 

6. Pittsburgh, PA

Breakeven Horizon 1Q 2017: 1 year, 11 months

Inventory: 10,830

Households: 990,355

Annual Forecasted Home Value Appreciation: 2.5%

Share of Listings with a Price Cut: 14.9%

Source: Zillow

Photo credit: Getty 

5. San Antonio, TX

Breakeven Horizon 1Q 2017: 1 year, 11 months

Inventory: 7,444

Households: 791,273

Annual Forecasted Home Value Appreciation: 3.0%

Share of Listings with a Price Cut: 17.2%

Source: Zillow

Photo credit: Getty 

4. Las Vegas, NV

Breakeven Horizon 1Q 2017: 2 years, 1 month

Inventory: 13,012

Households: 740,966

Annual Forecasted Home Value Appreciation: 4.8%

Share of Listings with a Price Cut: 12.0%

Source: Zillow

Photo credit: Getty 

3. Indianapolis, IN

Breakeven Horizon 1Q 2017: 1 year, 6 months

Inventory: 7,706

Households: 755,100

Annual Forecasted Home Value Appreciation: 3.0%

Share of Listings with a Price Cut: 13.1%

Source: Zillow 

Photo credit: Getty

2. Tampa, FL

Breakeven Horizon 1Q 2017: 1 year, 10 months

Inventory: 14,998

Households: 1,166,704

Annual Forecasted Home Value Appreciation: 3.2%

Share of Listings with a Price Cut: 18.8%

Source: Zillow

Photo credit: Getty 

1. Orlando, FL

Breakeven Horizon 1Q 2017: 1 year, 11 months

Inventory: 10,344

Households: 845,295

Annual Forecasted Home Value Appreciation: 3.8%

Share of Listings with a Price Cut: 17.4%

Source: Zillow 

Photo credit: Getty 

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