20 of the best places to live for first-time homebuyers

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Chicago is among the cities where you can save for a down payment in under five years.

• Saving enough money for a down payment to buy a home isn't easy these days.
• In fact, 39% of millennial homebuyers find it difficult to save for a down payment, according to Zillow Group's Housing Trends Report.
• RealEstate.com found the places where first-time home buyers can save for a down payment the fastest based on average income and savings rates.
• There are only six cities where it takes the average person less than four years to save for a down payment.

Saving for a down payment can be tough, especially when it's your first home.

The price of housing has become so high that it can take nearly a decade to save for a 20% down payment on a house, according to a SmartAsset report released earlier this year. And 39% of millennial homebuyers find it difficult to save for a down payment, according to Zillow Group's Housing Trends Report.

But in some places it's easier to save for a down payment than others.

RealEstate.com recently took a look at the 35 biggest metro areas in the US to see where first-time homebuyers can save for a down payment the fastest. Analyzing data from the US Census Bureau and Bureau of Labor Statistics, they factored in the median household income among buyers aged 24 to 36, as well as the annual savings rates for renters, using data from the March 2018 Zillow Group Housing Aspirations Report.

Assuming the buyer was looking for an entry-level valued home, RealEstate.com determined how much money they would need to save for a 20% down payment for the median home value in that range - the standard, but not required, down payment to buy a home. More than one-third of millennial homebuyers put down 20%, according to the Zillow Group's Housing Trends Report.

They then calculated how long it would take the buyer to save for the down payment based on their income and annual savings rates. These calculations did not factor in any windfalls or gifts millennials received from family, though many do - one-third of millennials anticipate they'll receive family support for at least 30% of their down payment, revealed a study by Apartment List.

Turns out, first-time homebuyers can save for a down payment in less than four years in six cities, including Detroit and Chicago. In eight cities, including Atlanta and Boston, it can take them more than five years to save for a down payment.

Below, see the top 20 cities where first-time homebuyers can save for a down payment the fastest, ranked from longest time to shortest time.