Between inflation, high interest rates and wage stagnation, it can feel harder than ever to make the dream of home ownership real. And some markets are definitely tougher to shop in than others. But according to a recent analysis by BestMoney, an online financial comparison marketplace, buyers looking for a starter home might have better luck in the Lone Star State.
Of Texas’ major metros, Corpus Christi and San Antonio are the cities with the cheapest starter homes, while Houston has the most starter homes on the market and offers the best bang for your buck. Meanwhile, starter homes in Austin may offer more square footage than elsewhere in Texas, but homes in the state capital are also the most expensive. Overall, Texas was among the states with cities where it’s easiest to find a starter home.
According to BestMoney, only about 17.5% of houses and townhomes in an average market are considered “starter homes.” That’s less than one in five homes. BestMoney defines a starter home as one with a smaller footprint that also costs 80% or less than the median sale price of typical homes in a given market…