04/11/2024
Some interesting figures here👇check it out!
Homebuyers in nearly half of the country need to earn at least six figures to be able to purchase a home.
Nationally, the typical household would need to earn $99,000 to buy a median-priced home of $415,500 in February. This also accounts for property taxes and insurance costs, and assumes a 10% down payment. However, the typical household income in America was only about $75,000 in 2022, according to the U.S. Census Bureau.
“For many people who want to buy a house, it’s just not feasible right now,” says senior economic research analyst Hannah Jones. “Even for households that can afford a home, the monthly cost is going to be much higher than it was two, three, four years ago.”
Full story: https://rltor.cm/a2cpp7
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