Tampa ranked as the best large city in the nation for first-time homebuyers and placed fourth overall among 300 cities studied, according to a new report from the personal finance site WalletHub.

The rankings come as first-time buyers face mounting challenges nationwide. WalletHub said first-time homebuyers accounted for just 21% of the housing market last year, well below the historical average of 40%, as home prices and mortgage rates remain elevated.

WalletHub evaluated 300 cities of varying sizes across 22 metrics grouped into three categories: affordability, real estate market conditions, and quality of life. The data included factors such as cost of living, real estate tax rates, foreclosure rates, building permit activity, and crime rates.

Palm Bay, Florida, took the top overall spot, driven by strong millennial homeownership rates and rapid home value appreciation. Surprise and Gilbert, Arizona, ranked second and third, followed by Tampa at fourth and Yuma, Arizona, at fifth.

Other Tampa Bay area cities also made the list. Lakeland ranked 21st, Clearwater came in at 27th, and St. Petersburg placed 122nd nationally.

WalletHub analyst Chip Lupo said in a statement that the best cities for first-time buyers combine affordability with housing choice, low crime and strong schools, noting that current market conditions have made the home-buying process especially difficult for many.

The full rankings are available on WalletHub’s website.

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