The cost of a typical starter home rose from $256,000 in 2019 to $344,000, with affordable listings under $350,000 dropping from 55% to 37.6%. Income needed to qualify increased from $43,000 to $78,000, while monthly payments rose over 80%. First-time buyers are older and more often higher-income, with many pooling resources or relocating. The South shows improvement due to new construction, while the Northeast faces rising prices and fewer affordable homes.