The average American household earns $40,000 less than they'd need to buy the typical U.S. home, according to a recent report.
American homebuyers need to earn about $115,000 a year in order to be able to afford the cost of the typical U.S. home, according to a recent Redfin report which acknowledges that affordability is still a massive issue in the country as prices remain stubbornly high.
57 percent—the highest level in over 20 years. According to Redfin, the typical U.S. homebuyer's monthly mortgage payment is now $2,866, an all-time high.According to the company's estimates, homebuyers must earn $114,627 to afford the cost of a typical, median-price home, up by 15 percent compared to a year ago and up by more than 50 percent since the start of the pandemic.
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