A Starter Home For $1 Million? That's Now The Reality In These 242 US Cities

Benzinga_recent_news06-16 15:27

Buying a starter home is becoming increasingly expensive across the U.S., with entry-level homes now costing at least $1 million in a record 242 cities, according to a Zillow analysis published Monday...

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That's Now The Reality In These 242 US Cities\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-06-16 15:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/real-estate/26/06/53215610/a-starter-home-for-1-million-thats-now-the-reality-in-these-242-us-cities><strong>Benzinga_recent_news</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying a starter home is becoming increasingly expensive across the U.S., with entry-level homes now costing at least $1 million in a record 242 cities, according to a Zillow analysis published Monday...</p>\n\n<a href=\"https://www.benzinga.com/real-estate/26/06/53215610/a-starter-home-for-1-million-thats-now-the-reality-in-these-242-us-cities\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4211","symbol_name":"区域性银行","start_time":0,"source_url":"https://www.benzinga.com/real-estate/26/06/53215610/a-starter-home-for-1-million-thats-now-the-reality-in-these-242-us-cities","article_id":"2643374758","we_media_id":null,"thumbnails":["https://cdn.benzinga.com/cdn-cgi/image/width=240,format=auto,quality=85/files/images/story/2026/06/16/Real-Estate-Investment-Concept-Man-Hand-.jpeg"],"rights":{"source":"benzinga_recent_news","url":"https://www.benzinga.com/real-estate/26/06/53215610/a-starter-home-for-1-million-thats-now-the-reality-in-these-242-us-cities","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2643374758","pubTimestamp":1781594820,"columns":[],"sourceInfo":{"source_id":"benzinga_recent_news","name":"Benzinga"},"weMediaInfo":null,"summary":"Starter homes now cost $1 million in 242 U.S. cities as rising prices and low supply worsen housing affordability.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4211":"区域性银行","Z":"Zillow","BK4588":"碎股","BK4585":"ETF&股票定投概念","BK4548":"巴美列捷福持仓","BK4079":"房地产服务","HBCP":"Home Bancorp Inc","BK4195":"互助储蓄与抵押信贷金融服务","BK4551":"寇图资本持仓"},"translate_title":"100万美元的入门房？这就是美国242个城市的现实","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HBCP":1.5,"Z":0.9},"content_text":"Buying a starter home is becoming increasingly expensive across the U.S., with entry-level homes now costing at least $1 million in a record 242 cities, according to a Zillow analysis published Monday.\nThe number of cities with million-dollar starter homes has nearly tripled from 80 in February 2020, highlighting how pandemic-era housing pressures continue to reshape affordability across the country.\nZillow defines a starter home as a home in the lowest third of home values in a given region. While the typical starter home nationwide is still worth $198,649, million-dollar entry-level homes are spreading well beyond traditional high-cost coastal markets.\nZillow said the pandemic fundamentally reset the cost of homeownership as a long-standing housing shortage collided with strong demand and historically low mortgage rates, driving home values sharply higher.\n\"The pandemic reset the cost of buying a home, spreading million-dollar starter homes from a handful of coastal states to more than two dozen states across the country,\" Zillow senior economist Kara Ng said.\nA total of 26 states now have at least one city with million-dollar starter homes, up from just nine before the pandemic.\nCalifornia continues to lead with 105 cities where starter homes cost at least $1 million. But growth has accelerated in the Northeast. New York now has 41 such cities, up from 12 before the pandemic, while New Jersey has 26, up from just one.\nNg said million-dollar starter homes are becoming more common in Northeast markets because housing shortages there remain unresolved, while Sun Belt markets have added supply and seen price growth moderate.\nThe Zillow report adds to broader signs of strain in the U.S. housing market.\nEconomist Mohamed El-Erian recently warned the U.S. housing market remains \"extremely unaffordable,\" citing data showing homebuyers now spend roughly 42% of their income on housing costs.\nOverall, the median U.S. home now costs nearly $418,000, according to the National Association of Realtors.\nRedfin data also showed households need an annual income of nearly $117,000 to afford the average home, underscoring the growing pressure on buyers.\nThe cost burden extends beyond mortgage payments. A recent Clever Real Estate report found the average homeowner spends nearly $24,000 annually on housing expenses outside mortgage payments, rising to about $28,000 when HOA fees are included.\nAt the same time, buyers are becoming more price sensitive. Recent Redfin data showed more sellers are pulling homes off the market as elevated mortgage rates and affordability pressures reduce buyer demand.\nZillow noted conditions are gradually becoming more favorable for financially prepared buyers as inventory improves and price growth slows. The typical buyer now breaks even relative to renting after roughly six years, down from more than eight years in late 2023.\nThe New York City metro area leads all U.S. metro regions with 63 cities where a starter home costs at least $1 million, followed by San Francisco with 37 and Los Angeles with 33.\nDisclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.\nImage via Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2643374758","isCrawlerRequest":true}