Less Than 40% of U.S. Households Can Afford a Starter Home, Study Finds

TL;DR

Only 38% of non-homeowner households can afford a starter home, defined as a property valued at the 25th percentile of the market.
The median salary for non-homeowners ($55,000) is over $7,000 less than the income needed to afford a starter home ($62,000+).
In 2026, 242 U.S. cities have starter homes costing $1 million or more, tripling since 2020.
California has a significant income gap, with starter homes costing $140,676 more than the median non-homeowner household earns.
Rhode Island is the least affordable state, with only 16.5% of households able to afford an entry-level home.
Mississippi, West Virginia, Arkansas, and Alabama are among the most affordable states for starter homes.

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