237 US cities now require a six-figure investment for a starter home, up from 84 in 2019, as average first-time homebuyer age rises to 35.
1 Million starter homes are increasingly common in the US, with Minnetonka Beach, Minnesota having an average starter home price of over $1 million. Zillow data reveals 237 cities in the USA currently require a six-figure investment for a starter home, up from 84 cities in 2019. The average age of a first-time homebuyer has risen to 35, making homeownership less accessible for young Americans due to rising house prices and the ongoing housing market affordability challenges.
August 10, 2024
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