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Starter Homes Top $1 Million in 242 U.S. Cities, Up From 80 in 2020
Zillow data shows the number of cities where entry-level homes exceed $1 million has more than tripled since 2020, driven by limited new construction.
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U.S. cities now have starter homes valued at more than $1 million, according to Zillow data reported by CBS News. That figure is up from 80 cities in 2020. Zillow senior economist Orphe Divounguy attributed the rise to constrained supply.
“It’s a supply story,” he told CBS News' Major Garrett, citing a lack of new housing construction as the main factor pushing prices higher. The data reflect median values for entry-level homes across metropolitan areas tracked by Zillow. No other causes were specified in the report.
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