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Most of us love living on Long Island — from the access to New York City and its abundance of sandy beaches to its tree‑lined suburban streets and plethora of high-performing school districts.
But when it comes to buying a first home, younger buyers are increasingly facing tough choices.
Long Island housing inventory continues to plummet, with baby boomers fueling the shortage by being less likely to sell. As such, median sale prices on Long Island remain sky-high — approaching $900,000 in Nassau and well above $700,000 in Suffolk, according to a Long Island Business News report.
That’s far above what most consider a “starter” home. Putting things in perspective, Zillow released a study in recent days titled “Top 20 Places Where Starter Homes Are Still Affordable.”
Their analysis shows where first-time buyers can still find homes priced significantly below the typical “affordable” threshold.
20 affordable starter home cities
In the following metro areas, single-family starter home values are at least 9% and up to 60% less than what is considered affordable for a median-income household, Zillow’s study says. The city nearest to Long Island on the list is Hartford, Connecticut.
| Metro | Affordable Home Price* | Typical Starter Home Value | Gap (%) |
|---|---|---|---|
| Birmingham, AL | $291,955 | $117,160 | -60% |
| Detroit | $284,523 | $131,929 | -54% |
| Memphis | $248,710 | $120,438 | -52% |
| Cleveland | $251,588 | $143,220 | -43% |
| Indianapolis | $317,552 | $182,635 | -42% |
| Baltimore | $391,476 | $233,195 | -40% |
| Buffalo | $304,979 | $189,743 | -38% |
| Kansas City | $307,713 | $190,802 | -38% |
| Louisville | $282,611 | $182,221 | -36% |
| Cincinnati | $304,154 | $196,993 | -35% |
| Houston | $303,558 | $212,160 | -30% |
| Chicago | $331,008 | $235,531 | -29% |
| Columbus | $300,135 | $212,746 | -29% |
| Charlotte | $349,693 | $254,302 | -27% |
| Atlanta | $353,133 | $262,631 | -26% |
| Jacksonville | $302,762 | $230,560 | -24% |
| Milwaukee | $320,009 | $243,319 | -24% |
| Dallas | $327,163 | $250,683 | -23% |
| Austin, TX | $372,360 | $312,294 | -16% |
| Hartford | $340,997 | $309,964 | -9% |
*Affordable home price calculated based on a median-income household in each metro area.
What this means for Long Island buyers
On Long Island, the perks are abundant: good schools, charming downtowns, beaches, parks and backyard space. But it all comes at a steeper and steeper price.
Long Island is far outside the starter-home benchmark in the above list. Zillow suggests buyers looking for their starter homes may need to:
- Consider condos or smaller homes rather than traditional single-family houses.
- Be ready to compromise on condition or location.
- Prepare financially with strong credit and pre-approval.
Top photos: Affordable start homes in other areas of the country: (Clockwise from top left) Memphis, Tennessee; Austin, Texas; Cleveland, Ohio; and Detroit, Michigan (Source: Coldwell Banker).
