Jul 19, 2019

The average starter home in West Virginia is only $42,000

Adapted from howmuch.net; Chart: Axios Visuals

While credit card and auto loan rates aren't falling, mortgage rates are.

What's happening: U.S. mortgage giant Fannie Mae said in a recent report it expects average U.S. 30-year fixed-rate mortgages rates will drop to 3.7% in the second half of 2019, lowered from expectations of 3.9% in the second half analysts predicted just a month ago. Mortgage rates averaged 4.4% in Q1 and 4% in Q2.

And while the housing market remains out of reach for many Americans, there are some locations where so-called starter home prices remain significantly below the national average.

  • West Virginia has the lowest median starter home price in the country, while Washington, D.C. has the highest.

Go deeper: Millennials are relandscaping the housing market

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