The Starter Home is No Longer a Start

The real estate landscape is shifting—and fast. A recent Zillow study reveals just how dramatically the concept of the “starter home” has evolved over the past five years. Traditionally defined as homes in the lowest third of property values within a region, today’s starter homes are looking less and less affordable.

Back in 2020, only 85 U.S. cities had starter homes priced at $1 million or more. Fast forward five years, and that number has skyrocketed to 233 cities. However, this trend isn’t uniform across the country. Nationwide, the typical starter home costs around $192,514. Meanwhile, we’ve also had 21 consecutive months of year-over-year increases in median existing home prices across the United States. As of March, that median hit $403,700—up 2.7% from the previous month.

WY It Matters: In 2020, Wyoming had zero cities where a typical starter home cost $1 million or more. BBy March 2024, three cities had crossed that threshold. As of March 2025, that number has slightly dipped slightly to two cities—but the underlying issue remains. Affordable housing in Wyoming is still a challenge, and the problem isn’t just market-driven—it’s policy-driven.

The Fix? Streamline Permitting. We make it extremely difficult to build in this state. Complex, inconsistent, and overly restrictive permitting processes are putting the brakes on badly needed housing development. That’s why your Wyoming Chamber is advancing the Permit Wyoming to Build initiative. If we’re serious about addressing the housing crisis—and climbing the ranks as a business-friendly state—we need to fix permitting. Now.