AFFORDABILITY ABSENCE

In 2024, the income needed to buy a median priced home of $429,734 and spend no more than 30% of income on housing was $116,782. A buyer with the median income of $83,782, would have to spend 41.8% of their income on housing. While that is a slight improvement from 42.2% in 2023, 2024 ranks as the second least affordable homebuying year on record. Between 2013-2019, it averaged 29.1%.

Recent Posts

Categories