Zillow: Record 242 U.S. cities now have $1M+ starter homes
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Topics in This Edition
Summary
The segment reports Zillow findings that a record 242 U.S. cities now have starter homes (lowest third of local values) valued at $1 million or more, up from 80 in 2020. California leads with 105 such cities, followed by New York and New Jersey; Texas, South Carolina, and Wyoming have also gained entries. National typical starter home value is cited near $200,000 versus much higher figures in coastal and Northeast markets.
Editorial Assessment
The broadcast accurately relays Zillow's methodology, trends, and expert commentary on supply shortages and pandemic effects driving prices. It correctly notes regional variation and the role of local building regulations. Viewers receive solid context on why certain markets remain strained while others cooled with new supply. Minor imprecision exists in rounding national price and monthly payment estimates, but sourcing is direct and transparent. No significant omissions or counter-evidence are needed beyond the primary Zillow report.
Key Moments
Record 242 U.S. cities have starter homes at $1M+, up from 80 in 2020
Matches Zillow June 2026 analysis exactly (80 in Feb 2020 to 242 today)
California has 105 such cities; NY and NJ showing fast growth
Zillow data lists CA at 105, NY at 41, NJ at 26 as of April 2026
National typical starter home ~$200,000; San Jose nearly $1M
Zillow reports $198,649 nationally; San Jose metro among highest-cost areas
Texas now has 7 (from 0 in 2020); SC 3, Wyoming 2
Zillow state tables confirm these increases since 2020
Mortgage rates around 6.5%, 30-40 bps below last year
Current 30-year rates ~6.5-6.6%; modest decline from prior year aligns with data
Sources Consulted
- A record 242 US cities now have starter homes that cost $1M
- Starter Homes That Cost $1M Have Spread to More Than Half of States
- A record 242 U.S. cities now have starter homes that cost $1M
- Hundreds of U.S. cities now have starter homes that cost $1 million, Zillow finds
- Starter homes now cost $1M in 242 US cities: Zillow
- The rise of the million-dollar starter home
- A record 242 US cities now have starter homes that cost $1M
- Zillow: 242 US Cities Have Starter Homes That Cost $1M
- Starter homes now cost $1 million in 242 US cities: Zillow
- In 233 U.S. Cities, Even a Starter Home Costs $1 Million
- Compare 30-Year Mortgage Rates Today
- 30-Year Fixed Rate Mortgage Average in the United States