There was a time in New York when the phrase “starter home” meant exactly that, a modest house, a manageable mortgage and the first step toward putting down roots in your own community.

I remember my first home in Latham, a small fixer-upper that was far from perfect but exactly right for us just starting out. It represented possibility. Today, for too many young people across upstate New York, that phrase sounds more like a punchline than a plan.

The numbers tell a sobering story. Since 2019, home prices in New York have climbed by roughly 60%. The statewide average sale price now hovers well above half a million dollars, while inventory has tightened to historic lows.

This strain is particularly clear in the Capital Region. According to the region’s 2025 Housing Affordability Study a single-person household earning 70% of the Area Median Income cannot afford a median-priced home in any of the four Capital Region counties (Albany, Schenectady, Saratoga, Rensselaer). For young residents locally, the math simply does not work.

The result? Bidding wars, waived inspections, escalation clauses and young people wondering how they are supposed to compete when they are already juggling student loans, car payments, childcare and rising grocery bills.

A December 2025 report from the New York State Comptroller’s Office underscores what most of us at that age, or with kids, or grandkids at that age already know: Generation Z (born 1997-2012) and younger........

© The Saratogian