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The 15 best cities for first-time homebuyers

Pittsburgh, Pennsylvania
Robert D. Strovers | Getty Images
Pittsburgh, Pennsylvania

Fewer than 35 percent of adults under age 35 own a home, according to personal finance site SmartAsset.

While buying a home may seem like a daunting process in your 20s or even early 30s, it's more than possible — if you know where to look.

In a 2016 report, SmartAsset determined the best U.S. cities for first-time homebuyers. The site ranked every U.S. city with a population of over 300,000 based on seven metrics: the number of mortgage lenders, loan funding rate, value per square foot of home, affordability ratio (the ratio of median household income to ownership costs), homeowner stability, market volatility and the number of quarters since 2010 that home prices declined. You can read the full methodology in the report.

According to the findings, first-time homeowners will get the best buys in Oklahoma and Texas — six of the top 15 cities are in these two states.

Read on to see which cities made the cut. We also included the percentage of loans that get approved (for reference, the average loan funding rate for major U.S. cities is 69 percent), the average price per square foot of home, the average monthly mortgage payment (based on a 30-year fixed mortgage rate), and the median household income for each city, all provided by SmartAsset.

15. Anchorage, Alaska

Loan funding rate: 79%

Average price per square foot of home: $191

Average monthly mortgage payment: $1,110

Median household income: $78,121

Anchorage, Alaska
David Ryder | Bloomberg | Getty Images
Anchorage, Alaska

14. Columbus, Ohio

Loan funding rate: 76%

Average price per square foot of home: $78

Average monthly mortgage payment: $570

Median household income: $51,890

Columbus, Ohio
Gary Gardiner | Bloomberg | Getty Images
Columbus, Ohio

13. Arlington, Texas

Loan funding rate: 73%

Average price per square foot of home: $82

Average monthly mortgage payment: $529

Median household income: $57,727

Building a home, under construction
Justin Sullivan | Getty Images

12. Colorado Springs, Colorado

Loan funding rate: 77%

Average price per square foot of home: $115

Average monthly mortgage payment: $823

Median household income: $57,487

Colorado Springs, Colorado
Spencer Platt | Getty Images
Colorado Springs, Colorado

10. Fort Worth, Texas (TIE)

Loan funding rate: 73%

Average price per square foot of home: $76

Average monthly mortgage payment: $529

Median household income: $57,727

Fort Worth, Texas
Thomas Fikar | Getty Images
Fort Worth, Texas

10. Dallas (TIE)

Loan funding rate: 70%

Average price per square foot of home: $91

Average monthly mortgage payment: $490

Median household income: $49,925

Dallas, Texas
Getty Images
Dallas, Texas

9. Louisville, Kentucky

Loan funding rate: 74%

Average price per square foot of home: $88

Average monthly mortgage payment: $581

Median household income: $47,692

Prospect is outside of Louisville, Kentucky
Luke Sharrett | Bloomberg | Getty Images
Prospect is outside of Louisville, Kentucky

8. San Antonio

Loan funding rate: 62%

Average price per square foot of home: $81

Average monthly mortgage payment: $478

Median household income: $50,867

San Antonio, Texas
Matthew Busch | Bloomberg | Getty Images
San Antonio, Texas

7. Wichita, Kansas

Loan funding rate: 78%

Average price per square foot of home: $77

Average monthly mortgage payment: $486

Median household income: $50,326

A for sale sign hangs outside a home in Wichita, Kansas
Larry W. Smith | Bloomberg | Getty Images
A for sale sign hangs outside a home in Wichita, Kansas

6. Omaha, Nebraska

Loan funding rate: 83%

Average price per square foot of home: $100

Average monthly mortgage payment: $552

Median household income: $53,444

Omaha, Nebraska
Walter Bibikow | Getty Images
Omaha, Nebraska

5. Houston

Loan funding rate: $69

Average price per square foot of home: $88

Average monthly mortgage payment: $509

Median household income: $53,822

Houston, Texas
Jeremy Woodhouse | Getty Images
Houston, Texas

4. Pittsburgh

Loan funding rate: 58%

Average price per square foot of home: $75

Average monthly mortgage payment: $482

Median household income: $52,390

Pittsburgh, Pennsylvania
Robert D. Strovers | Getty Images
Pittsburgh, Pennsylvania

3. Indianapolis, Indiana

Loan funding rate: 77%

Average price per square foot of home: $69

Average monthly mortgage payment: $456

Median household income: $42,378

Indianapolis, Indiana
Getty Images
Indianapolis, Indiana

2. Tulsa, Oklahoma

Loan funding rate: 74%

Average price per square foot of home: $72

Average monthly mortgage payment: $515

Median household income: $48,926

Tulsa, Oklahoma
Walter Bibikow | Getty Images
Tulsa, Oklahoma

1. Oklahoma City

Loan funding rate: 75%

Average price per square foot of home: $78

Average monthly mortgage payment: $496

Median household income: $46,584

A new home development is seen under construction from the air near Oklahoma City, Oklahoma
Saul Loeb | AFP | Getty Images
A new home development is seen under construction from the air near Oklahoma City, Oklahoma