How Much Is a Starter Home in Your State These Days?

goodluz /

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.

Read Next

13 Things We Buy and Then Almost Never Use
13 Things We Buy and Then Almost Never Use

Save your money. These alluring purchases tend to clutter homes and wind up as coat racks and dust magnets.

6 Ways Your Phone Can Slash Grocery Costs
6 Ways Your Phone Can Slash Grocery Costs

These free apps and websites can help you get cash back on groceries, shop more efficiently or squeeze the most from the ingredients you have on hand.

33 Home Upgrades That Cost Less Than $100
33 Home Upgrades That Cost Less Than $100

There’s no need to spend a mint to make your home look like a million bucks.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started


Trending Stories