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Here's how much a typical starter home costs in each state

Business Insider Logo By Hillary Hoffower and Marissa Perino of Business Insider | Slide 1 of 52: 
  
    Home prices are increasing,
    leaving fewer starter homes on the real-estate market.
  
  
    While some millennials are bypassing starter
    homes altogether, others are still looking to buy one.
  
  
    We teamed up with Zillow to find out the
    typical cost of a starter home in every state.
  
  
    Visit Business Insider's
    homepage for more stories.
  

  Millennials are waiting longer than ever to buy
  homes, partly because of rising housing costs.

  Currently, the real estate market is a seller's market,
  according to Zillow. This
  causes home prices to shoot up, leaving minimal inventory at the
  middle and low end of the housing market, Spencer Rascoff,
  Zillow's CEO, previously told Business Insider's
  Alyson Shontell.

  "As a result of limited starter-home inventory," he said,
  millennials "are renting longer." In the process, they're
  bypassing the need for a starter
  home.

  But that doesn't mean starter homes are completely
  unavailable or out of reach - just how much do starter homes
  really cost in today's market? That depends on what state you're
  buying in.

  We teamed up with Zillow to find the median value of a
  starter home in every state. Using its most recent data from
  March 2019, Zillow looked at homes valued in the lower one-third
  of all homes. They also ranked each state by population size
  using US Census data, called the "size of state rank."

  The most expensive starter homes are in Washington DC,
  costing a median of $335,700, and the most affordable starter
  homes are in West Virginia, with a median value of
  $42,300.

  See how much a starter home costs in your state. All median
  home values are courtesy of Zillow, and all median worker
  earnings are from the 
  Census Bureau's American Community Survey.

Here's how much a typical starter home costs in each state


Millennials are waiting longer than ever to buy homes, partly because of rising housing costs.

Currently, the real estate market is a seller's market, according to Zillow. This causes home prices to shoot up, leaving minimal inventory at the middle and low end of the housing market, Spencer Rascoff, Zillow's CEO, previously told Business Insider's Alyson Shontell.

"As a result of limited starter-home inventory," he said, millennials "are renting longer." In the process, they're bypassing the need for a starter home.

But that doesn't mean starter homes are completely unavailable or out of reach - just how much do starter homes really cost in today's market? That depends on what state you're buying in.

We teamed up with Zillow to find the median value of a starter home in every state. Using its most recent data from March 2019, Zillow looked at homes valued in the lower one-third of all homes. They also ranked each state by population size using US Census data, called the "size of state rank."

The most expensive starter homes are in Washington DC, costing a median of $335,700, and the most affordable starter homes are in West Virginia, with a median value of $42,300.

See how much a starter home costs in your state. All median home values are courtesy of Zillow, and all median worker earnings are from the Census Bureau's American Community Survey. Click or swipe through to see the full list.

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