WalletHub Ranks Seattle 204th, Tacoma 190th for First-Time Homebuyers as Starter Homes Hit $535,000
Updated
Updated · Fox News · Jul 21
WalletHub Ranks Seattle 204th, Tacoma 190th for First-Time Homebuyers as Starter Homes Hit $535,000
1 articles · Updated · Fox News · Jul 21
Summary
Seattle ranked 204th and Tacoma 190th out of 300 U.S. cities in a new WalletHub study, placing both near the bottom for first-time homebuyers.
A $535,000 average Seattle starter home and a $4,334 monthly mortgage help explain the weak showing, with buyers describing standard three-bedroom homes at $550,000 to $600,000 as out of reach.
The report fits a broader affordability squeeze: 242 U.S. cities now require $1 million for a starter home, according to figures discussed on Fox's 'Big Money Show.'
Housing experts cited in the report say expanding homebuilding is one of the clearest ways to improve affordability, while Congress is also weighing limits on large institutional investors buying starter homes.
The pressure is especially acute on the West Coast—36 of the 50 worst cities for first-time homebuyers were in California—underscoring how regional housing costs are reshaping entry-level ownership.