5 Cities Where Millennials Are Actually Finding Those Mythical “Starter Homes”

5 Cities Where Millennials Are Actually Finding Those Mythical "Starter Homes" It’s no surprise that the american housing market is pretty inhospitable to first-time homebuyers: Not only have available "starter homes" (the least expensive third of houses on the market) decreased by 23.2 percent in the past five years, these homes are.

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There’s little agreement on what a starter home is. He blamed demanding millennials, who refuse to live But all those things are useless to young families who have no idea where to find the $500,000 they have to pay to live The problem is that cheaper, older starter homes are nearly as hard to find.

Five years ago, the typical family looking for a starter home had to spend one-third of its income on a small house in Greater Seattle, according to Trulia. That assumes millennials are able to sock away 15 percent of their income each year, which may prove difficult for some given the soaring rents here.

According to new data from Trulia, over 40 percent of listings in San Francisco are starter homes. The city saw the biggest jump in starter home inventory in the nation last quarter, with listings.

In Dallas, some are embracing longer commutes to find homes they can. make the median income in cities such as Seattle and Los Angeles. First-time buyers already face significant hurdles to.

But here’s where they’ll find some affordable, attainable starter homes. It’s no surprise that the American housing market is pretty inhospitable to first-time homebuyers: Not only have available "starter homes" (the least expensive third of houses on the market) decreased by 23.2 percent in the.

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5 Cities Where Millennials Are Actually Finding Those Mythical "Starter Homes" It’s no surprise that the American housing market is pretty inhospitable to first-time homebuyers: Not only have available "starter homes" (the least expensive third of houses on the market) decreased by 23.2 percent in the past five years, these homes are.

Zillow’s CEO, Spencer Rascoff, says millennials are interested in buying homes but are waiting longer to do so. Millennials aren’t buying "starter homes" – they’re typically spending more on.

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Millennials aren’t buying "starter homes" – they’re typically spending more on their first homes. "Many people are basically skipping starter homes," Rascoff says.. to buy and those to rent.