Buying your first home is traditionally considered a life milestone. But acquiring the keys to that starter home, whatever its size, has become harder to do.
Millennials especially are finding it tough to save up for a first home. Homeownership rates are lowest among households under age 35, with 36.4% owning homes as of the second quarter of this year, according to U.S. Census Bureau statistics. The homeownership rate across all ages is 64.1%.
Of course, your starter home could be a mobile home or a small condo, an urban bungalow or a suburban rambler. Much depends on home prices, how much money buyers have and the state or city. Your money goes a lot further in Deep South states than in an urban area of a state like California or New York.
Business Insider teamed up with Zillow to determine the median cost of a starter home in each state and Washington, D.C. Zillow, a real-estate marketplace, examined properties with values in the lower one-third of all homes.
We ranked the states based on the median cost of starter homes. Our list starts with the places that have the highest starter-home median price and ends with those that have the lowest.