Zillow’s metric smiles on San Antonio

San Antonio is the sweet spot for homeownership, according to Zillow's latest analysis.

The Texas city and home of the Alamo is a market with strong income growth, a growing job market, and a place where you can break even on a home purchase in just over a year.

The Zillow Breakeven Horizon released quarterly, looks at how long home buyers need to stay in a home before buying it makes more financial sense than renting it.

The national Breakeven Horizon is less than two years, and owning is more affordableI than renting in 34 of the 35 largest metros. But it's still difficult to afford a down payment, especially as rents continue to rise across the country.

Zillow combined the Breakeven Horizon with job market and income information to find places where homeownership is not just financially advantageous but also more likely to be financially possible. 

In San Antonio, homeowners can expect to break even on a home purchase in one year and four months.

Here are Zillow’s Top 10 Sweet Spots for Homeownership, and their first quarter 2016 “Breakeven Horizon."

1) San Antonio, 1 year 4 months

2) Nashville, Tenn. 1 year 5 months

3) Tampa, Fla.  1 year 7 months

4) Jacksonville, Fla. 2 years

5) Raleigh, N.C.  1 year 8 months

6) Charlotte, N.C. 1 year 7 months

7) Columbus, Ohio 1 year 7 months

8) Atlanta  1 year 4 months

9) Seattle  1 year 7 months

10)  Memphis, Tenn. 1 year

"All places on this list are great for those looking to buy a home and settle down," said Zillow Chief Economist Dr. Svenja Gudell. "Not only do they have a strong labor market, but a home purchase in these markets makes a lot of financial sense. Be careful, though, because this assumes you can qualify for a mortgage, have a down-payment saved up and, most importantly, can find a home for sale in your price range. Simply put, buying a home in many of these markets is not for the faint of heart."