A record 242 cities now have typical starter homes worth at least $1 million.
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A record 242 American cities now have typical starter homes valued at $1 million or more, according to a new Zillow report.
Why it matters: That's up from 226 cities last year — and 80 in February 2020, before the pandemic housing boom sent home prices soaring.
The big picture: 26 states had at least one city with million-dollar starter homes in April, up from nine states before the pandemic, Zillow found.
A record 242 US cities now have starter homes that cost $1M
Hundreds of U.S. cities now have starter homes that cost $1 million, Zillow finds
When the "starter home" price tag hits $1 million
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The Death of the Starter Home
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Zero Sum: Cities Have Little To Show For Big Spending
A record 242 US cities now have starter homes that cost $1M
The number of metropolitan areas around the country with basic homes worth at least $1 million has tripled since 2020.
It wasn't that long ago that a typical starter home might have been an urban condo. But now that people are waiting longer to buy…
The first rung onto the property ladder now costs seven figures in a record 242 cities, a new Zillow report shows.
The first rung on the property ladder now costs seven figures in a record 242 cities, a new Zillow report shows.
It's more common than people might think.
