Tech Insider
A young couple in front of a home.
Many first-time homebuyers, largely consisting of millennials and Gen Zers, are locked out of homeownership.

Jenny Elia Pfeiffer/Getty Images

  • In June, the median sale price for the typical starter home reached an all-time high of $243,000.
  • The income needed to purchase a typical starter home has increased 13% from 2022, to $64,500.
  • Burdened by high costs and limited inventory, many would-be buyers are locked out of homeownership.

Buying a home has never been more financially out of reach than it is now.

Tags
Real Estate, Features, Starter Homes, first time homebuyers, Homebuyers, Ohio, California, Florida, mortgage rates, housing inventory
Source
Looking to buy a starter home? They're more expensive than ever.