Inflation woes: Homebuyers need 80% more income to buy than 4 years ago

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Inflation Woes: Home Buyers Need 80 Percent More Income to Buy than Four Years Ago

by Bethany Blankley   The housing market is not immune from inflationary woes as buyer’s purchasing power has significantly diminished in four years. Home buyers in 2024 need 80% more income to purchase a home than they did in 2020, according to a new report by Zillow. “The income needed to comfortably afford a home is up 80% since 2020, while median income has risen 23% in that time,” the report states. That equates to $47,000 more than four ye…