A Zillow analysis indicates that the income required to comfortably afford a typical home in the United States has risen significantly. In 2020, a household earning $59,000 per year could afford a home priced around $240,815. However, in 2024, the required income has increased to approximately $106,500, marking an 80% rise. Additionally, home buyers now need to put down nearly $127,750, or 35.4%, to afford a typical home. This substantial increase in necessary income and down payment highlights the growing challenges for prospective home buyers in the current economic climate. Critics attribute this to Bidenomics, stating it has made the American Dream unattainable for many.
UNITED STATES: Zillow reports that the income needed by home buyers to comfortably afford a home is 'up 80% since 2020', from $59,000 annually in 2020 up to $106,000 currently.
According to Zillow, Americans now must earn roughly $106,500 in order to comfortably afford a home, an 80% increase from the $59,000 required in 2020. Bidenomics has made the American Dream unattainable for far too many Americans.
According to Zillow, Americans now must earn roughly $106,500 in order to comfortably afford a home, a 61% increase from the $59,000 required in 2020. Bidenomics has made the American Dream unattainable for far too many Americans.
A Zillow analysis of major U.S. metropolitan areas shows that a home buyer making the median income needs to put down nearly $127,750, or 35.4%, to comfortably afford a typical U.S. home. https://t.co/DzpDKu0rlj https://t.co/KsAcEZOMM3
In 2020, a household earning $59,000 per year could afford a typical home priced around $240,815. https://t.co/7TqNrU8529