Million Dollar Starter Homes Are a Horrifying Reality in Connecticut

Zillow recently conduted a study to find the cities and states with the most $1 million starter homes and Connecticut was right towards the top of the list. "Zillow says "Nationwide, the typical starter home is worth $196,611" but they also found over 20 states that had cities/towns with starter homes that are $1 million or more.

Here are the Top 10 States with Starter Homes at $1 Million or More:

1. California - 117 Cities

2. New York - 31 Cities

3. New Jersey - 21 Cities

4. Florida - 11 Cities

5. Massachussettes - 11 Cities

6. Washington - 8 Cities

7. Texas - 7 Cities

8. Hawaii - 5 Cities

9. Connecticut - 4 Cities

10. Colorado - 3 Cities

Other takeaways:

• The number of cities where a starter home is worth $1 million or more has grown from 84 five years ago to 237 today.
• Nearly half of these cities with "million-dollar" starter homes are in California.
• The typical starter home nationwide is worth less than $200,000.

The study did not specify which Connecticut cities have $1 million starter homes but those of us who live here can probably guess and be right.

Zillow's Senior Economist Orphe Divounguysaid:

"Home buyers are battling affordability and availability today. So much so that $1 million is the norm for a starter home in hundreds of cities. However, it's looking more and more like there will be some good news ahead for first-time buyers. More homes are for sale, price cuts are on the rise, and buyers have a few more days to weigh their options as homes sit on the market."

Looking like there is some good news? You let me know when starter homes in Connecticut are back down in the $150,000 range and we can talk about "good news" Orphe. Until that day comes (it will never) there is no good news to be had for regular ass people.

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