A new Zillow analysis finds that in the largest rental markets across the nation, 14% of renters could actually afford to purchase a home. Strong credit scores and relatively high incomes position these renters to buy a median-priced home in their area.

San Jose, Calif., San Diego, and San Francisco, home to tech-hubs and high salary jobs, have the highest share of residents that could afford to buy a home based on their credit score and income. Even in San Jose, Calif., where the median home price is almost $1 million, 35.6% of renters have the necessary means to purchase a home in the area. San Francisco follows with 26.8% of renters who could afford the $812,300 median price, while San Diego has 23.6% of renters who could buy a $512,000 home.

Los Angeles, Seattle, New York, Boston, Washington, D.C., Portland, Ore., and Denver followed the three California cities in the top ten with shares higher than the 14% national average.

Metros that already have high home ownership rates and metros that were hit hard during the housing crisis have a much lower number share of renters that are financially qualified to purchase a home. Houston has the least number of renters at 6.8% that could purchase a $172,900, the median price for the Texas city. Indianapolis and Cleveland, followed with the lowest shares at 7.2% and 7.9%, respectively.

Dallas, Kansas City, Mo., Detroit, Baltimore, Atlanta, Phoenix, and Charlotte, N.C., also fell into the ten cities with low shares of renters capable of buying homes.

"When faced with hurdles of high prices and low inventory, first-time home buyers are renting longer than ever before even if they are qualified to buy," said Zillow Chief Economist Dr. Svenja Gudell in a news release from ZIllow Friday. "San Jose, San Diego and Seattle are among the most competitive places for buyers, and the going isn't any easier for renters – as they are competing against throngs of financially sound applicants with strong credit and high incomes."