Buyers Need Higher Income to Afford Homes in Majority of States
Monday, 1 April 2024, 16:37
Report: Income Required to Buy Homes Jumps in 2021
The latest report reveals that in 2021, buyers in 22 states require a six-figure income to afford a typical home, a significant increase from just six states in 2020. California, Hawaii, DC, Massachusetts, and Washington state top the list, with income requirements ranging from $156,814 to $197,057.
This trend underscores the growing affordability challenges in the housing market, especially in high-cost regions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.