New Redfin research shows the typical renter earns $11,000 less than the $66,120 minimum required to afford the typical U.S. apartment. And only 39% of U.S. renters earn enough to afford a median-priced apartment.
According to a new survey from Clever Real Estate, prospective buyers need to earn at least $119,769 annually to afford a median priced home at $332,494 with a 10% down payment. That income is $45,000 more than the median U.S. household income.
A new Zillow report shows today’s homebuyers need to earn more than $106,000 a year to afford a typical U.S. home—up $47,000 or 80% from January 2020. The median household income has grown only 23% during that time.
A recent article on RentCafe highlights the top 10 U.S. cities where a renter’s income goes the furthest.
A new Redfin report shows homebuyers now need a household income of $115,000 to afford a median-priced home. That’s roughly $40,000 more than the typical U.S. household earns.
The Fannie Mae Home Purchase Sentiment Index® saw a slight increase in July as consumer sentiment on job security and household income improved or remained high. But 82% of respondents believe it’s a bad time to buy a home—up from 78% in June.
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