Starter homes now cost $1 million in hundreds of U.S. cities, Zillow finds
Summary
A real estate company called Zillow found that 242 cities in the United States now have starter homes that cost $1 million or more. This number has almost tripled since 2020. A starter home means a house that is in the cheapest third of homes in that area.Key Facts
- Zillow is an online real estate marketplace.
- They define a starter home as one in the lowest third of home prices in a region.
- Currently, 242 U.S. cities have starter homes priced at $1 million or more.
- This is nearly three times the number of cities with million-dollar starter homes in 2020.
- The report highlights rising home prices across many cities.
- The increase means it is getting harder for people to buy affordable homes.
- The data shows a significant shift in U.S. housing costs in recent years.
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