The idea of the starter home was once as American as apple pie — but as prices and mortgage rates skyrocket, entry-level homes are becoming increasingly out of reach for a large swath of the population.

A recent study from in October found that renters in just four large US metros — Detroit, Tulsa, Memphis, and Oklahoma City — earned 100% or more of what they need to afford an entry-level home. Just a month ago, two more cities — Kansas City, Mo., and Baltimore — were on the list. And the price of an entry-level home was $200,000 or less in just 15 of the 50 largest U.S. cities.

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Lynn Pollack


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