According to a recent Zillow study, the typical price of starter homes in at least 233 cities across the U.S. has surged to $1 million or more. This trend marks a stark increase from just five years ago, when only 85 cities reached those prices. Notably, California dominates with 113 cities priced over a million, but areas like Rhode Island and Minnesota, previously regarded as affordable, are also experiencing this rise. Jupiter Island, Florida, ranks the highest with a starter home price of nearly $5.9 million.
The typical price of a starter home has reached $1 million or higher in 233 U.S. cities, highlighting a significant increase in housing prices since 2020.
Five years ago, only 85 cities in the U.S. had starter homes priced at $1 million, underscoring the drastic changes in the housing market.
California has the most extensive list of cities with expensive starter homes, with 113 cities where typical prices exceed $1 million.
New Shoreham, Rhode Island, and Minnetonka Beach, Minnesota, are newcomers to the list of cities where starter homes cost $1 million or more.
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