The number of US cities where first-time homebuyers are faced with at least a $1 million price tag on the average entry-level home has nearly tripled in the past five years, according to new research.

A Thursday report from Zillow indicates that a typical starter home is now worth $1 million or more in 237 cities, up from 84 cities in 2019, underscoring America’s ongoing home affordability crisis.

“Affordability has been strained across the board,” Orphe Divounguy, a senior economist at Zillow, said. “We see the largest number of million-dollar starter homes in expensive coastal markets. We see them in markets with very low homeownership rates and we see them in markets with more building regulations.”

  • GiddyGap@lemm.ee
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    4 months ago

    super expensive

    There are very few places in Texas that are super expensive.

    • Soulg
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      4 months ago

      So you’re not from Texas then

      • GiddyGap@lemm.ee
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        4 months ago

        Not from Texas, for sure. But I can say with confidence that there are very, very few places in TX that are “super expensive” compared to California, which was the subject at hand.