New Data: Home Affordability a Problem in 80% of US Counties
WHAT’S MOVING THE MARKET
The national median home price jumped to $360,000, a 7.3% rise from last quarter, making homeownership unaffordable in 80% of U.S. counties. Major home expenses now eat up 35.1% of the average wage, the highest since 2007. An annual income of $90,598 is needed to afford a typical home, far above the average wage of $72,358. In ov…
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