Over $100,000 Income Required to Buy a Median-Priced American Home

The income needed to purchase a home has increased by almost 50 % over the past four years, making Americans need to make more than$ 100, 000 annually.
” A combination of higher mortgage rates, rising home prices, and lower housing inventory over the last two years is pushing homeownership further out of reach for may- be homeowners, particularly initial- timers”, Bankrate said in an April 1 report. According to the company’s analysis,” to afford a median- priced home of$ 402, 343, Americans need an annual income of$ 110, 871″. This is “nearly a 50 % increase over the previous four years.”
A median-priced home can now be purchased in 22 states and the District of Columbia with a six-figure yearly income required. Four years ago, just six state and the District of Columbia had quite a large condition….

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