According to a recent Bankrate analysis, the typical American family would need a six-figure salary in 2025 in order to purchase a home. According to Bankrate’s Housing Affordability Study,
A “typical home” in the United States requires a family income of around $117,000 per year. According to analysts, that number has increased by about 50% since the beginning of 2020.
Just six states including Washington, D.C., required homebuyers to have a six-figure salary in 2020. Currently, almost 30 states have such situation.
According to Bankrate, a variety of variables, such as high mortgage rates and the general increase in housing prices, are to blame. The U.S. housing market is the most challenging in decades,
According to Bankrate experts. “We cannot predict when these conditions will improve, but we should be aware that home availability and prices vary greatly across the country,
