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Starter homes now cost $1 million in record number of cities
According to a Zillow study, starter homes cost $1 million in 237 cities.
SAN FRANCISCO - If you've ever tried to buy a home in the Bay Area, or much of California for that matter, the sticker shock may have come in waves.
First, the actual listing price may have sent a chill down your spine.
Then, despite interest rates taking a dip from their sky-high levels, a glance at your expected monthly payment may have struck fear into your heart.
And finally, the idea of getting into a bidding war, just to pay significantly over asking, may have left you with a sinking feeling.
If any of this sounds familiar, you may want to preserve your mental health and stop reading now.
Here's a comparison of just what kind of house you can get for a cool $1 million in the Bay Area versus other parts of the country where perusing Zillow is more like a leisure activity, not an anxiety-inducing doom scroll. (Don't say you weren't warned.)
SAN FRANCISCO
This 1-bed/1-bath condo in the city’s tony Cow Hollow neighborhood is listed for $1,050,000. It's 1,361 square feet, which isn't so bad for a single city living, but the shine is dulled a little by the $1,000+/month HOA fee that will put a dent in your budget.
EAST BAY
This $1,099,800 listing in Alameda will secure you more living space with three bedrooms and a whopping four bathrooms.
Not to mention the comparably more affordable $350/month HOA fee and the Target shopping center within shouting distance. But based on recent sales in the area and the high demand of the school district, you might not be able to expect to be paying that listing price when all is said and done.
SOUTH BAY
Look for a similar story in Santa Clara where we found some new (and new-ish) construction and some decently sized condos, including this 1,256 sq ft, 2-bed/2-bath townhome for $1,070,000. Depending on your commute, the distance from easy mass transit might be worth trading for a two-car garage, $500+/mo HOA fee, and the oddly advertised "mature trees."
RENO, NEV.
Relocating to the wooded hills outside Reno could score you this 4-bed/3-bath, ~3,000 sq ft home, with a jaw-dropping living room, jetted bathtub, and enviable backyard.
Seems to be good to be true for $1,050,000?
Its vicinity to Tahoe (and therefore the spillover of Bay Area bidding war culture) makes us suspicious this may not really be the bargain it appears to be.
Nevertheless, it's the stuff that Zillow daydreams are made of.
LAS VEGAS, NEV.
If you don't mind shriveling in the scorching desert sun in exchange for middle-class mansion life, this 4-bed/3-bath, 3,200 sq ft abode might be for you.
A budget that can handle $1,050,000 will easily get you behind the gates of this desirable Summerlin neighborhood, where you'll find a kitchen that looks as big as an SF apartment, spacious walk-in closets, and a built-in backyard BBQ that can be enjoyed by anybody who wants to stand over a fire while already living on the surface of the sun.
GALVESTON, TEXAS
On the Gulf Coast, $1 million will get you a two-story, 4-bed/4.5-bath beach house steps from the water. The gourmet kitchen, new appliances, and laughably low $33/mo HOA fee will almost make you forget about those pesky hurricanes.
WASHINGTON, D.C.
Do your best House of Cards impression as you sit and brood on the window sills of this 1,136 sq ft., 2-bed/2-bath townhouse in the posh Dupont Circle neighborhood of the nation’s capital.
Built in 1873(!), and thankfully updated since then, this $1,025,000 listing is better suited to folks looking for Michelin-starred restaurants within walking distance, not backyard baseball or a living room wide enough to fit stairs that don't spiral.
KITTERY, MAINE
If the lobster rolls at Kittery’s annual festival or its charming rows of tug boats don't win you over, this gorgeous $1,035,000 New England home with a 2-car garage and ADU certainly will.
Fill your summers with "carefree sidewalk strolls" to adorable cafés. Just don't ruin your real estate daydream by asking about winter.
HUNTERTOWN, INDIANA
Probably the best deal on the list, this 5-bedroom/5-bath, newly-constructed home is absolutely lavish for a $1,079,900 price tag.
Plus, it's driving distance to some of the state’s best lakes, where you can water ski, fish, and forget that for the same price you could be squeezing into a third of your square footage (4,300!) and fighting traffic on a NorCal freeway.
BOISE, IDAHO
Sure, prices have skyrocketed in this mid-sized city with an influx of fleeing Californians.
But a 2,590 sq. ft home on one of Boise’s charming, tree-lined downtown streets is still moderately accessible. Like this 3-bed/2-bath home built in 1900, and just a stone’s throw to beautiful parks and hikes, with a price tag of $1,024,900.
The changing Fall foliage along the city’s Riverwalk and vicinity to easily accessible skiing and camping alike might make you overlook the population growth and want to make the Gem State your home.