|Lindsay Wilson of CultureMap Dallas says that First-time Texas homebuyers make nearly as much as the average U.S. homebuyer, according to data from MortgageHippo.|
After looking at over 5,000 buyers, the majority of them millennials, the site determined that the average first-time homebuyer in the U.S. makes around $65,000 yearly and has a credit score of 730.
First-time buyers in Texas come close with an average income of $60,000 and a credit score of 710. While Texans have fewer available assets—$16,000 compared with the nation's $20,000—they shell out a down payment of $12,000, only $3,000 less than the national average.
Buyers across the country plan to stay in the home for around nine years.
The available inventory of homes is affecting first-time buyers the most, but millennials are still gaining traction as the largest group of homebuyers in the nation.
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