Data Analysis of FHA Lending Patterns Across 150 U.S. Metro Areas
Sources: Home Mortgage Disclosure Act (HMDA)
Buying a first home has never been harder, but 2026 may be a year of optimism for aspiring homebuyers who put their American dream of homeownership on the back burner. Mortgage rates have cooled off, purchase applications are ticking up, and buyers are gaining the upper hand in most metro areas.
Where are first-time homeowners getting their foot in the door? What income do you need to buy your first home and where do homeowners need to be more vigilant about the condition of the home they’re buying? This report analyzed FHA loans originated from Home Mortgage Disclosure Act (HMDA) data from 2024, the most recently available, across 150 of the most populous U.S. metro areas to explore first-time homeowner activity.
Key Findings:
- First-time homebuyers are borrowing 3.2x their income to own their first home, with a median income of $91,000 and a median home loan of $295,000
- First-time homebuyers are most likely to be couples, or individuals with a co-signer (38%), followed by solo male borrowers (31%) and lastly, solo female borrowers (27%)
- Nationally, first-time homebuyers under the age of 35 make up just 9% of all buyers, according to HMDA loan data.
- Lakeland-Winter Haven, Florida has the highest rate of first-time home buyers across 150 MSAs analyzed, where 52.6% of home loans originated were first-time buyers.
- McAllen-Edinburg-Mission, TX metro area boasts the highest proportion of millennial and Gen Z first-time buyers (28% of all home loans)
- Single female outpaced single males for first-time homeownership in 32 of the 150 MSAs analyzed, primarily in the South.
Top 10 Metros For First-Time Homebuyer Activity
When we analyzed all FHA loans originated out of the total of all home loans, we found some standouts among metro areas for first-time homeownership, mostly in Florida and Texas.
| Metro Area | % FHA from Total Loans | Avg Loan-to-Income Ratio | Median Income of FHA Borrowers | Median Loan Amount | Median Property Value |
| Lakeland-Winter Haven, FL | 52.6% | 3.6 | $85,000 | $305,000 | $315,000 |
| McAllen-Edinburg-Mission, TX | 46.6% | 2.8 | $88,000 | $245,000 | $255,000 |
| Brownsville-Harlingen, TX | 43.5% | 2.8 | $83,000 | $235,000 | $245,000 |
| Visalia, CA | 43.4% | 3.7 | $97,000 | $355,000 | $375,000 |
| Bakersfield-Delano, CA | 41.7% | 3.7 | $98,000 | $365,000 | $375,000 |
| Beaumont-Port Arthur, TX | 40.8% | 2.3 | $89,000 | $205,000 | $215,000 |
| Mobile, AL | 39.5% | 3.0 | $71,000 | $215,000 | $225,000 |
| Cape Coral-Fort Myers, FL | 37.2% | 3.7 | $93,000 | $345,000 | $355,000 |
| El Paso, TX | 37.1% | 2.9 | $85,000 | $245,000 | $255,000 |
| Ocala, FL | 36.6% | 3.4 | $77,000 | $265,000 | $275,000 |
Where the Youngest Homeowners Are Getting Their Foot in the Door
The median age of a first-time buyer is now 40, according to the NAR, and according to our data, the youngest group of first-time buyers (under the age of 35) make up only 9% of all home loans originated. But in these 7 metro areas, younger buyers are purchasing homes for the first time at a much higher rate.
| Metro Area | % Total FHA Applicants Under Age 35 |
| McAllen-Edinburg-Mission, TX | 27.6% |
| Visalia, CA | 26.4% |
| Brownsville-Harlingen, TX | 24.0% |
| Bakersfield-Delano, CA | 22.9% |
| Beaumont-Port Arthur, TX | 21.2% |
| El Paso, TX | 20.5% |
| Lakeland-Winter Haven, FL | 20.5% |
Metros Where Single Female Homebuyers Are Buying First Homes Faster Than Single Males
Single female homebuyers account for 26.7% of all first-time borrowers across the 150 metros we analyzed. But in 52 metros, single females make up a third or more of all first-time homeowners, and in the following areas, outpace single males.
| Metro Area | Solo Female Borrowers as % of all FHA Loans | Solo Male Borrowers as % of all FHA Loans | % Difference Solo Men vs Solo Women |
| Fayetteville, NC | 40.8% | 29.7% | 11.1% |
| Columbia, SC | 39.9% | 29.0% | 10.9% |
| Tallahassee, FL | 36.9% | 28.5% | 8.4% |
| Jackson, MS | 38.4% | 30.1% | 8.3% |
| Montgomery, AL | 40.9% | 32.6% | 8.2% |
| Memphis, TN-MS-AR | 36.9% | 30.0% | 6.9% |
| Baltimore-Columbia-Towson, MD | 37.4% | 30.6% | 6.7% |
| Philadelphia–Camden–Wilmington, PA–NJ–DE–MD | 35.6% | 29.3% | 6.3% |
| Richmond, VA | 34.8% | 29.3% | 5.5% |
| Virginia Beach-Chesapeake-Norfolk, VA-NC | 35.7% | 30.7% | 5.0% |
Where Housing Age May Strain First-Time Homebuyers Financially
We explored the metro areas with high homeowner activity that intersected with the oldest housing stock, calculated with data from the Census. While older homes can be more affordable options for first-time buyers compared to new builds, older homes may require critical systems replacements, such as a new roof or HVAC, which can cost tens of thousands of dollars. An old roof that needs replacing is hard to skip on: home insurance may require repairs or replacements to keep your coverage. According to a study by This Old House of 2,000 homeowners, owners of older homes (aged 20+ years) spent 48% more on a single home project compared to owners of newer homes, which means first-time buyers in these areas have to be extra careful to assess the “bones” of their home, as well as understand what risks they’re taking on.
| cbsa_title | % FHA from Total Loans | Avg. loan-to-income ratio | Median Income of FHA Borrowers | Median Loan Amount | Median Property Value | Median Home Age |
| Visalia, CA | 43.4% | 3.7 | $97,000 | $355,000 | $375,000 | 44 |
| Beaumont-Port Arthur, TX | 40.8% | 2.3 | $89,000 | $205,000 | $215,000 | 44 |
| Shreveport-Bossier City, LA | 31.0% | 2.8 | $72,000 | $205,000 | $205,000 | 44 |
| New Orleans-Metairie, LA | 29.1% | 3.1 | $80,000 | $245,000 | $245,000 | 51 |
| Scranton-Wilkes-Barre, PA | 27.4% | 2.8 | $69,000 | $195,000 | $205,000 | 66 |
| Youngstown-Warren, OH | 26.0% | 2.3 | $62,000 | $145,000 | $155,000 | 60 |
| Flint, MI | 24.7% | 2.6 | $70,000 | $185,000 | $185,000 | 54 |
| Springfield, MA | 24.5% | 3.5 | $87,000 | $305,000 | $315,000 | 65 |
| Providence-Warwick, RI-MA | 23.1% | 4.0 | $110,000 | $435,000 | $445,000 | 61 |
| Canton-Massillon, OH | 22.2% | 2.4 | $72,000 | $175,000 | $185,000 | 58 |
| Louisville/Jefferson County, KY-IN | 21.7% | 3.1 | $80,000 | $245,000 | $255,000 | 46 |
| Reading, PA | 21.1% | 3.0 | $78,000 | $235,000 | $245,000 | 54 |
| York-Hanover, PA | 20.7% | 2.9 | $85,000 | $245,000 | $255,000 | 48 |
| Baltimore-Columbia-Towson, MD | 20.1% | 3.3 | $99,000 | $325,000 | $335,000 | 47 |
Overleveraged: Where first-time homeowners are borrowing higher than average against income
Nationally, a first-time home buyer is borrowing 3.2x their income to own their first home, with a median income of $91,000 and home value of $310,000. The following metros are where first-time buyers are borrowing above-average against income, and may be more likely to be “house poor,” depending on their debt-to-income ratio (for FHA, the DTI maximum is 43%).
| Metro Area | Average Loan-to-Income Ratio | Median Income of FHA Borrowers | Median Loan Amount |
| Provo-Orem-Lehi, UT | 4.3 | $101,000 | $435,000 |
| Salt Lake City-Murray, UT | 4.2 | $104,000 | $435,000 |
| Oxnard-Thousand Oaks-Ventura, CA | 4.1 | $168,000 | $695,000 |
| Salinas, CA | 4.1 | $149,000 | $615,000 |
| Urban Honolulu, HI | 4.1 | $140,500 | $575,000 |
| Santa Maria-Santa Barbara, CA | 4.1 | $143,000 | $585,000 |
| Boston–Cambridge–Newton, MA–NH | 4.1 | $139,000 | $565,000 |
| Los Angeles–Long Beach–Anaheim, CA | 4.0 | $165,000 | $665,000 |
| Ogden, UT | 4.0 | $103,000 | $415,000 |
| Santa Rosa-Petaluma, CA | 4.0 | $159,000 | $635,000 |
| San Diego-Chula Vista-Carlsbad, CA | 4.0 | $172,000 | $685,000 |
| Denver-Aurora-Centennial, CO | 4.0 | $122,000 | $485,000 |
| Providence-Warwick, RI-MA | 4.0 | $110,000 | $435,000 |
| Salem, OR | 4.0 | $100,000 | $395,000 |
Methodology
We analyzed data from the Home Mortgage Disclosure Act, from the Consumer Financial Protection Bureau, to explore first-time homeowner activity across 150 of the most populous metropolitan areas in the United States. We analyzed loans originated for the purpose of purchasing a principal residence, and focused on data for first liens only. For the purposes of this study, we used home loans originated for the intent of purchase as a proxy for home-buying. Data from the HMDA is from most recently available data (2024), and data for median home age comes from 2023 American Community Survey. Statistics related to older home maintenance cost comes from a survey of 2,000 homeowners conducted by This Old House via Pollfish to gain insights regarding Americans’ experience with and outlook on repairs, maintenance, and remodeling projects. We collected survey data for this report from February 10, 2025, to February 11, 2025.