DALLAS (KDAF) — Moving out of your parent’s house is nerve-wracking whether you’re headed to college or hitting the workforce and simply getting your own space. Usually, new adults will start out in apartments and eventually become first-time homeowners.

Being a first-time homeowner can be the most exciting time of a person’s life while also being the most stress-inducing experience people will ever face. So, where do you need to look in the United States to become a first-time homeowner?

SmartAsset released a report on how much it will cost during the first year of homeownership in large cities throughout the country in 2022. “Homebuyers in large cities are in an especially tough spot given relatively high home values and in this study, we examined how much the first year of homeownership costs.”

So, how are things stacking up in Texas’ largest cities? Let’s take a look at SmartAsset’s findings:

  • Austin (No. 8): Total cost = $191,611
  • Dallas (No. 13): Total cost = $95,528
  • Fort Worth (No. 14) = $94,949
  • San Antonio (No. 15) = $87,388
  • Houston (No. 17) = $79,107

The report says, “The median home value in 2022 in Houston, Texas is about $261,500. This means that the average new homebuyer who puts down 20% will need almost $56,400 (including average closing costs). The first year of homeownership also includes a year’s worth of the mortgage payment, property taxes and homeowners insurance, meaning that a buyer will pay about $79,100 in the first year.”

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