starter home

noun

1. a compact flat or house marketed by price and size specifications to suit the requirements of first-time home buyers

Example Sentences

She and her family moved to their starter home in Altadena on election day in 2016.

Read more on Los Angeles Times

In early 2020, those first-time King County buyers were already earning only 59% of the income needed for a starter home in the county, according to the center’s affordability index.

Read more on Seattle Times

To put that in day-to-day terms, even in formerly affordable parts of Seattle, such as Rainier Valley, a starter home is going to be $700,000, said Sally Li, a broker with Pellego.

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In Bremerton, the typical first-time buyer now earns just 48% of the income necessary to afford a starter home, down from 76% just three years ago, according to UW’s affordability index.

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The research also showed that terraced homes made up 30% of new mortgages for first-time buyers, although flats have been increasing in popularity as a cheaper starter home option.

Read more on BBC