USA Today: This is the salary needed to afford a typical US home in 2026
Redfin said affordability improved slightly as household income rose, but the typical buyer still spends 37.6% of income on a median-priced home.
- On Wednesday, Redfin reported that U.S. households need an annual income of $109,796 to afford a median-priced home, leaving a $22,197 shortfall for the typical family earning $87,599.
- Despite a 4% rise in median household income from $84,257 to $87,599, affordability gains remain modest, with 34.2% of homes for sale accessible to median earners in June versus 30.5% a year earlier.
- Redfin Senior Economist Yingqi Xu noted the market has become "a bit more manageable" for buyers, though she warned many first-time buyers remain on the sidelines because typical household earnings remain insufficient.
- San Francisco remains the least affordable major metro, requiring $453,205 annually, while only St. Louis, Indianapolis, and Pittsburgh have median incomes exceeding the local cost of housing.
- Affordability remains well below pre-2022 levels, and while mortgage rates eased into the mid-6% range, Redfin economists warned that rising inflation or interest rates could reverse modest recent gains.
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24 Articles
Homebuyers need nearly $110K income to afford a typical home
A new Redfin report finds a household must earn nearly $110,000 a year to comfortably afford a typical home. That figure is down slightly from last years record high.Rising household incomes and slower home-price growth helped narrow the gap.Still, the average household earns about $22,000 less than what is needed to comfortably buy a median-priced home.RELATED STORY | Report: Most homebuyers are overpaying on their mortgageMedian household inco…
Here's the income needed to afford the typical American home
Housing affordability remains a concern for would-be homebuyers as the income needed to afford a typical U.S. home remains near historic highs and well above what most American households earn, though there are signs of improvement from a year ago.Home prices surged in 2022 and 2023 amid strong demand coming out of the pandemic, while mortgage rates also doubled due to interest rates rising to counteract the surge in inflation.A new report by Re…
According to a Redfin analysis, American families would have to spend no more than 30% of their income on housing costs.
The Epoch Times
$109,796 in Earnings Needed to Afford Typical US Home
The income needed to purchase a house has been dropping consistently since October.
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