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

goodluz / Shutterstock.com

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.

This Is the Best Used Car You Can Buy
This Is the Best Used Car You Can Buy

This car combines reliability, safety and long-lasting value.

8 Things I Always Buy at Target
8 Things I Always Buy at Target

I grew up shopping at the original Target store and am a lifelong fan. Here are my favorite purchases.

Drivers Give These 5 Car Insurers the Highest Marks
Drivers Give These 5 Car Insurers the Highest Marks

One company claimed the top ranking in several categories.

View this page without ads

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

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.