While Boston doesn’t immediately come to mind as a market for first-time homebuyers, the fact is 41% of the homes in the Boston-Cambridge-Newton MA area can be considered “starter homes.” Yes, expensive starter homes to be sure, but a “starter home” is considered anything priced at 85% of the median list price ($949,000), which in this case amounts to $550,000.
Throw in the caveat that it’s an extremely competitive market and, well, it might be wise to c9nsider other markets (median list price included).
- Charlotte-Concord-Gastonia, NC-SC – $425,000
- Grand Rapids-Kentwood, MI – $319,900
- Greenville-Anderson, SC – $269,900
- Hartford-East Hartford-Middletown, CT – $249,900
- Indianapolis-Carmel-Anderson, IN – $260,000
- Kansas City, MO-KS – $256,900
- Knoxville, TN – $429,900
- Phoenix-Mesa-Chandler, AZ – $499,000
- San Antonio-New Braunfels, TX – $293,000