The five housing markets where homeownership is still affordable
Briefly

Median income households in the U.S. face increasing challenges to afford homes, needing significant annual raises depending on downpayment amounts. While many regions see more favorable buying conditions this spring, such as increased inventory and seller flexibility, core issues persist. Some markets, like Pittsburgh and St. Louis, offer surprising affordability, yet cities like San Francisco showcase extreme unaffordability, requiring six-figure raises for median income earners. There is a call for policies that can enhance home building in accessible areas to improve future affordability.
A household making the median income of $82,168 requires an additional raise of $17,670 annually to afford home payments, highlighting rising affordability challenges.
Zillow economist Kara Ng notes we're experiencing the most buyer-friendly spring since before the pandemic, with increased inventory and more negotiable sellers.
Five housing markets, including Pittsburgh and St. Louis, show annual incomes that exceed mortgage payments, unlike the extreme unaffordability seen in cities like San Francisco.
In San Francisco, a median income household requires a staggering $165,566 raise to afford a typical home, exemplifying the severe housing crisis.
Read at www.housingwire.com
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