The price of starting out

San Jose metro area leads the nation for most expensive starter home prices, highest monthly mortgage and the highest minimum income needed to afford one according to Redfin.

Here's how Redfin defines a “starter home” for the purposes of this report: The analysis divides all U.S. properties into five buckets based on Redfin Estimates of homes’ market values as of July 2024. There are three equal-sized tiers, as well as tiers for the bottom 5% and top 5% of the market. This report is focused on homes whose sale price fell into the 5th-35th percentile of the Redfin Estimate tier.
Chart: Kate TalericoSource: RedfinGet the dataCreated with Datawrapper