First-timer Friendly

San Antonio lands on list of 10 best cities for first-time homebuyers

Zillow says first-time homebuyers should head to Texas, San Antonio specifically.

Photo Courtesy of Keller Williams San Antonio

A new analysis from Zillow says that first-time homebuyers will have the best luck in the Southeast, but don't count out Texas. In fact, San Antonio and Dallas both show up in the real estate website's top 10 markets for first-timers, with Alamo City at No. 5 and Big D taking No. 9.

What makes these cities so first-timer friendly? They scored well on the five metrics Zillow used to determine the rankings:

Lower median home value (which makes for a more affordable down payment)
A strong home value forecast (as an indicator of building equity)
Higher inventory-to-household ratio (so buyers can more easily capture available supply)
A shorter Breakeven Horizon (to show a financial advantage of buying over renting)
A greater share of listings with price cuts (to indicate a less competitive market)

San Antonio wins big with its 17.2 share of listings with a price cut and a low median home price of $158,500, while Dallas does well with 4.4 percent appreciation and a solid Breakeven Horizon of one year and eight months.

Houston and Austin are also in the 35-city study, coming in at Nos. 15 and 20, respectively. It takes nearly a year longer to recoup your buying costs in Houston than it does in Dallas, and the median home price in Austin is more than $100,000 above that of San Antonio.

Zillow reveals that more than two-thirds of renters say that saving for a down payment is the biggest barrier to homeownership. In all but three of the 10 best markets for first-time buyers, the median home value is lower than the national median home value, which means they require less money up front as a down payment. Dallas is one of those pricey three, but San Antonio falls well below the national median price of $196,500.

Orlando and Tampa sweep the top two, with Indianapolis taking third. And the toughest area for first-timers? California, which bottoms out on the list with San Diego, Los Angeles-Long Beach-Anaheim, San Jose, and San Francisco. In all four of these markets, appreciation is low, home prices are high, and it could take up to five years to break even on your investment.

zillow bests home-for-sale rankings

Take A Walk

New multifamily community opens near Stone Oak restaurants and shopping

Rendering courtesy of Greyson Luxury Living

The new community offers 291 units.

A new multifamily community is now open to prospective residents in San Antonio. Greyson Luxury Living comprises 291 units at 1734 N. Loop 1604 West, with a focus on lifestyle amenities. But the location will be the main draw for many.

Apartment floor plans range from one to three bedrooms, starting at $1,317 for one bedroom and one bathroom, and working up to a base price of $2,611 for three bedrooms and two baths. The community's pet policy according to the website is: "We welcome all your furry friends at Greyson."

Residents will get reserved parking and a garage with EV charging stations, but it might not always be necessary to hop in the car. The apartments are directly adjacent to restaurants like Cover 3, Eddie V's Prime Seafood, and Blü Prime Steakhouse — not exactly everyday eats, but there's tons more at the Vineyard Shopping Center and the Stone Oak neighborhood's Blanco Market Shopping Center across the highway.

In addition to restaurants, the community is less than a five-minute drive from H-E-B Plus, Whole Foods Market, Target, fashion and furniture stores, and multiple fitness studios like StretchLab and LA Fitness.

A press release promises wood-style flooring, quartz and granite countertops, and ceramic tile backsplash. On the more utilitarian side, it offers single-basin sinks, kitchen islands, "spacious" pantries, a stainless-steel Energy Star appliance package, and washer and dryer connections. (Images shared by the complex so far appear to be more illustrative of the desired vibe than the actual space.)

Every floor plan also shows a private patio or balcony. The most expensive floor plan — the three-by-two — has a wraparound outdoor space.

For shared spaces, a resort-style pool with a tanning shelf (a very shallow area for placing lounge chairs) and bike storage encourage residents to get outside, and a dog wash station makes it easy to leave dirt and hair outside of apartments. There's also a fitness center, a clubhouse with wi-fi, elevators, and concierge services.

“We developed Greyson as a luxury multifamily community aimed to fit any type of lifestyle, and we are grateful for all of our partners that helped bring this project to life,” says Ed Garahan, partner and CEO at Carbon Companies, the development firm heading the project.

Carbon Companies also sold the Addison Medical Center Apartments, Ventura Ridge, Triomphe Apartments, and Pecan Springs Luxury Apartment Homes, with more in the works in San Antonio.

apartments shopping