Income Needed to Buy a Home Drops, but Many Americans Still Priced Out скачать в хорошем качестве

Income Needed to Buy a Home Drops, but Many Americans Still Priced Out

The income needed to buy a home in the United States is finally moving lower after years of relentless increases. But for many households, homeownership is still out of reach. According to Redfin, buyers now need to earn about $111,000 per year to afford the typical home. That’s down 4% from a year ago and well below the peak of more than $122,000 reached in mid-2025. The improvement is largely driven by lower mortgage rates, now hovering near 6%, compared with nearly 7% last year. As borrowing costs eased, the median monthly mortgage payment fell from roughly $2,800 to about $2,675. That’s meaningful progress — but it doesn’t close the gap. The typical U.S. household earns about $86,000 per year, which is still roughly $25,000 short of what’s needed to afford the median-priced home. While wages have risen around 4% over the past year, income growth hasn’t fully caught up to the sharp home price increases seen since 2020. Affordability is improving in many cities, including Dallas, Sacramento, Jacksonville, San Jose, and Austin, where lower rates and softer prices are easing pressure. But in places like Detroit, Chicago, and St. Louis, rising home prices are pushing the required income higher. In only 12 of the 50 largest metro areas does the typical household earn enough to comfortably afford a home. Meanwhile, high-cost markets like San Jose, San Francisco, Los Angeles, and New York remain far out of reach for most buyers. Looking ahead, further improvement depends on stable mortgage rates, continued wage growth, and restrained home price gains. The market is no longer getting worse month after month — and that alone is a shift. But while the door to homeownership is opening slightly, it’s not fully open yet. For direct financing consultations or mortgage options for you visit 👉 Nadlan Capital Group. Contact us today for a tailored consultation, where our expert advice turns potential into profitable reality. 🔍 If you’re looking to get the best possible mortgage in the U.S. for Foreign Nationals and Americans, and want to run an auction between more than 3,000+ lenders, click here👇 https://nadlancapitalgroup.com/creati... Continue reading on our site: https://www.forumnadlanusa.com/2026/0... #HousingAffordability #RealEstateMarket #MortgageRates #HomeBuying #Housing2026