economy
Starter homes now cost $1 million in hundreds of U.S. cities, Zillow finds
Online real estate marketplace Zillow found that 242 U.S. cities now have starter homes worth $1 million or more, nearly triple the number of cities reported in 2020. The company defines a starter home as one in the lowest third of home values in a given region. CBS News MoneyWatch reporter Megan Cerullo has more.
TL;DR
- 242 U.S. cities now have starter homes valued at $1 million or more.
- This number has nearly tripled since 2020.
- Zillow defines starter homes as those in the lowest third of home values in a given region.