NEW YORK, NY — Buying a first home remains difficult as prices stay high and 30-year mortgage rates hover near 7.5%, according to Freddie Mac. That combination has pushed many would-be buyers toward smaller homes, older properties, and neighborhoods where the monthly math may still work.
Realtor.com highlighted five starter homes spread across Charlotte, Denver, Phoenix, Atlanta, and Chicago, each listed for under $400,000. The homes range from a 1971 brick bungalow in Chicago to a newer build in Charlotte, with prices starting at $289,900. Several of the properties already have updates, while one includes seller financing and another can be sold with furniture.
Charlotte listing comes with financing help and a newer build
The highest-priced home in the roundup is a 2023 build at 1160 Harland St. in Charlotte, priced at $359,000. The three-bedroom house sits in the Belterra neighborhood and measures 1,725 square feet. Its open layout includes a kitchen with a breakfast bar, stainless steel appliances, and a dining area that opens to a back patio.
The home also includes a primary suite with a walk-in closet, a loft, and an attached two-car garage. According to the listing, the property qualifies for 100% financing with no PMI and $5,000 toward closing costs or a rate buydown. Niki Neel of Keller Williams South Park is the listing agent, and the home is being offered with seller financing.
Denver and Phoenix offer different takes on move-in ready
At 4651 Josephine St. in Denver, a three-bedroom home built in 1890 is priced at $349,000. The 1,033-square-foot property has been modernized with efficient heating and cooling systems, plus an updated kitchen with refinished cabinetry, new appliances, and new flooring. One bedroom is on the main level, while a floating staircase leads to two more bedrooms upstairs.
The Denver home also has two refreshed bathrooms, a fenced yard, and a back patio. In Phoenix, 4785 E Kiva St. is also listed at $349,000. Built in 1983, the three-bedroom home keeps many original details, including arched doorways, mirrored closets, vaulted ceilings, and laminate countertops. The listing says furniture can be included, and the property sits in the Ahwatukee Retirement Village near the Ahwatukee Golf Club.
Atlanta’s ranch trades on updates and a lower price point
The least expensive home in the group is 1367 Kenilworth Dr SW in Atlanta, listed at $289,900. The updated ranch has three bedrooms and 1,190 square feet of living space, with an open floor plan that connects the living room and dining area. Luxury vinyl floors run through the home, and the kitchen features stainless steel appliances, subway tile, and granite countertops.
Both baths have been modernized, including one with a glass-enclosed shower. Outside, the fenced backyard gives buyers a blank slate for a firepit or outdoor seating. Kristopher Willis of Bolst, Inc. is the listing agent. For buyers trying to keep their purchase price down, the Atlanta property stands out in the roundup as a renovated home with a comparatively lower entry point.
Chicago bungalow adds basement space and garage access
In Chicago, 5104 S Menard Ave. is listed at $309,000. The three-bedroom brick bungalow is in the Garfield Ridge neighborhood and was built in 1971. At 1,040 square feet, it is smaller than some of the other homes in the roundup, but it adds several practical features that matter to budget buyers.
The house has a living room with newer wall-to-wall carpeting laid over original hardwood floors, along with an eat-in kitchen featuring oak cabinetry and laminate countertops. A partially finished basement adds a bar, laundry room, storage room, and workroom. The property also includes a detached two-car garage with alley access. Cindy Rizzo of Charles Rutenberg Realty of IL is the listing agent, and the home is being sold as is.
What the roundup says about today’s starter-home market
The five homes point to the narrow path many first-time buyers face right now. Even under $400,000, the listings still vary widely in age, square footage, and location, which shows how much buyers often have to weigh convenience against size and condition.
Some of the properties lean on updates to attract buyers, while others rely on extras such as seller financing, included furniture, or finished basement space. Realtor.com also notes that the Midwest remains one of the more budget-friendly regions, while Massachusetts is considering a ballot question aimed at allowing smaller lots for starter homes. For now, the listings in this roundup offer a snapshot of where affordability still exists in major U.S. markets.
More on what homes, rents and new builds are doing near you, on RHS Commoner.
