Buyers Need a $17,000 Raise to Afford a Typical Home
Homeownership has become significantly less affordable for median-income families, who now need an additional $17,670 salary to afford a typical U.S. home, even with a 20% down payment saved. In high-cost areas like San Jose or San Francisco, the income gap is even more extreme, with six-figure raises required to purchase a median-priced home. These affordability challenges are pushing more Americans toward single-family rentals, which have seen surging demand and rent growth.
