(Undated) — Buying a home in America is not cheap, especially for first-time homebuyers. Bankrate analyst Jeff Ostrowski says the national median price for a starter home is 400-thousand dollars.
“If you’re going to afford a 400-thousand dollar house at a seven percent interest rate, you’re going to need to make north of 110-thousand dollars,” said Ostrowski.
Ostrowski says mortgage interest rates haven’t really come down.
“It’s been stubbornly around seven percent for all of 2025 according to Bankrate’s weekly national surveys, and that’s not really what everyone was expecting.”
