{"id":81608,"date":"2025-08-06T05:00:00","date_gmt":"2025-08-06T12:00:00","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=81608"},"modified":"2025-10-14T12:02:20","modified_gmt":"2025-10-14T19:02:20","slug":"income-needed-to-afford-home-august-2025","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/income-needed-to-afford-home-august-2025\/","title":{"rendered":"Homebuying Affordability Is Improving in These 11 Places"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>The income needed to afford the typical U.S. home has fallen year over year in almost a dozen major metros, most of which are Sun Belt boomtowns that have seen a drop in home prices amid surging inventory.<\/i><\/strong><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>Nationwide, the typical homebuyer needs to earn $112,131 per year to afford the median priced home\u2014roughly $25,000 more than the typical household makes.<\/i><\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Homebuyers need to earn $112,131 per year to afford the <\/span><span style=\"font-weight: 400;\">$447,035<\/span><span style=\"font-weight: 400;\"> median priced U.S. home, little changed (+0.5%) from a year ago. But in 11 of the 50 most populous U.S. metropolitan areas, the income needed to afford a home has declined.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In <\/span><a href=\"https:\/\/www.redfin.com\/city\/13654\/CA\/Oakland\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Oakland, CA<\/span><\/a><span style=\"font-weight: 400;\">, homebuyers need to earn $244,073 to afford the typical home. While that\u2019s high compared to most places, it\u2019s down 4.6% year over year\u2014the largest decline among the 50 most populous U.S. metropolitan areas. Next come<\/span> <a href=\"https:\/\/www.redfin.com\/city\/19373\/FL\/West-Palm-Beach\"><span style=\"font-weight: 400;\">West Palm Beach, FL<\/span><\/a><span style=\"font-weight: 400;\"> (-3.7%), <\/span><a href=\"https:\/\/www.redfin.com\/city\/8907\/FL\/Jacksonville\"><span style=\"font-weight: 400;\">Jacksonville, FL<\/span><\/a><span style=\"font-weight: 400;\"> (-3.5%), <\/span><a href=\"https:\/\/www.redfin.com\/city\/16904\/CA\/San-Diego\"><span style=\"font-weight: 400;\">San Diego<\/span><\/a><span style=\"font-weight: 400;\"> (-3.2%), <\/span><a href=\"https:\/\/www.redfin.com\/city\/18142\/FL\/Tampa\"><span style=\"font-weight: 400;\">Tampa, FL<\/span><\/a><span style=\"font-weight: 400;\"> (-2.1%), <\/span><a href=\"https:\/\/www.redfin.com\/city\/30756\/GA\/Atlanta\"><span style=\"font-weight: 400;\">Atlanta<\/span><\/a><span style=\"font-weight: 400;\"> (-2%), <\/span><a href=\"https:\/\/www.redfin.com\/city\/14240\/AZ\/Phoenix\"><span style=\"font-weight: 400;\">Phoenix<\/span><\/a><span style=\"font-weight: 400;\"> (-1.8%), <\/span><a href=\"https:\/\/www.redfin.com\/city\/16661\/MO\/St-Louis\"><span style=\"font-weight: 400;\">St. Louis<\/span><\/a><span style=\"font-weight: 400;\"> (-1%), <\/span><a href=\"https:\/\/www.redfin.com\/city\/13655\/FL\/Orlando\"><span style=\"font-weight: 400;\">Orlando, FL<\/span><\/a><span style=\"font-weight: 400;\"> (-0.7%), <\/span><a href=\"https:\/\/www.redfin.com\/city\/16409\/CA\/Sacramento\"><span style=\"font-weight: 400;\">Sacramento, CA<\/span><\/a><span style=\"font-weight: 400;\"> (-0.4%) and <\/span><a href=\"https:\/\/www.redfin.com\/city\/30794\/TX\/Dallas\"><span style=\"font-weight: 400;\">Dallas<\/span><\/a><span style=\"font-weight: 400;\"> (-0.2%).<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-x31vf\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Homebuying Affordability Is Improving in These 11 Places\" src=\"https:\/\/datawrapper.dwcdn.net\/x31vf\/3\/\" height=\"489\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}})}();\n<\/script><\/p>\n<p><span style=\"font-weight: 400;\">This is according to a Redfin analysis of MLS <\/span><span style=\"font-weight: 400;\">median home sale price <\/span><span style=\"font-weight: 400;\">data as of June 2025, <\/span><span style=\"font-weight: 400;\">along with prevailing mortgage rates and property-tax payments<\/span><span style=\"font-weight: 400;\">. <\/span><span style=\"font-weight: 400;\">We consider a home affordable if a buyer taking out a mortgage spends no more than 30% of their income on their monthly housing payment.\u00a0<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-81613\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/07\/Screenshot-2025-07-31-at-5.34.40-PM-1024x740.png\" alt=\"\" width=\"800\" height=\"578\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/07\/Screenshot-2025-07-31-at-5.34.40-PM-1024x740.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/07\/Screenshot-2025-07-31-at-5.34.40-PM-300x217.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/07\/Screenshot-2025-07-31-at-5.34.40-PM-768x555.png 768w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/07\/Screenshot-2025-07-31-at-5.34.40-PM.png 1251w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The income needed to afford a home is falling in the aforementioned 11 metros because home prices are falling. In Oakland, for example, the median home sale price fell 4.6% year over year in June\u2014the largest decline among the top 50 metros. Next came West Palm Beach (-4.1%) and Jacksonville (-3.9%).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The majority of these 11 metros are in Sun Belt states that exploded in popularity and price during the pandemic and are now seeing home prices come back down to earth. Many pandemic boomtowns ramped up construction to accommodate newcomers, leading to an influx of supply that put downward pressure on home prices.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cBuyers are battling affordability and they see a lot of listings sitting on the market, so they\u2019re asking for major concessions,\u201d <\/span><span style=\"font-weight: 400;\">said <\/span><a href=\"https:\/\/www.redfin.com\/real-estate-agents\/katie-shook\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Katie Shook<\/span><\/a><span style=\"font-weight: 400;\">, a <\/span><a href=\"https:\/\/www.redfin.com\/premier\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Redfin Premier<\/span><\/a><span style=\"font-weight: 400;\"> real estate agent in Phoenix.<\/span><span style=\"font-weight: 400;\"> \u201c<\/span><span style=\"font-weight: 400;\">We\u2019ve been in a buyer\u2019s market for the past eight months. If your home isn\u2019t in 10\/10 condition and priced at or below market value, it\u2019s going to linger on the market. A lot of sellers are offering $10,000-$15,000 to cover the buyer\u2019s closing costs to seal the deal. Some home features, like a landscaped backyard or pool, aren\u2019t getting the return they used to. Buyers are no longer willing to pay a premium for those things.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Four of the 11 metros where the income needed to afford a home is falling are in Florida, which has also seen home prices drop amid <\/span><a href=\"https:\/\/www.redfin.com\/news\/florida-home-sales-fall-2024\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">soaring<\/span><\/a><span style=\"font-weight: 400;\"> insurance and HOA costs, along with intensifying natural disasters.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While homebuying has become more affordable in some parts of the country, the typical household still earns far less than it needs to afford the typical home; the typical U.S. household earns an estimated $86,258\u2014roughly $25,000 less than the income required to afford the typical home for sale.<\/span><\/p>\n<h3><b>Affordable Midwest Metros See Biggest Jump in Income Needed to Buy a Home<\/b><\/h3>\n<p><span style=\"font-weight: 400;\"><br \/>\nAmerica\u2019s most affordable places are seeing the biggest jumps in the income needed to afford a home\u2014likely in part because their low cost of living has attracted homebuyers, pushing up prices.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In Detroit, the income needed to afford a home is up 9.9% year over year, the biggest increase among the top 50 metros. But it\u2019s still only at $57,432\u2014the lowest in the country. That\u2019s because even though Detroit\u2019s median sale price is up 8.6% year over year\u2014the second biggest increase in the nation\u2014it remains the lowest in the country ($215,000).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cleveland saw the second biggest increase in the income needed to afford a home (+8.2% year over year), followed by Newark, NJ (+6.8%), Chicago (+6.7%) and Pittsburgh (+5.7%).<\/span><\/p>\n<h3><b>The Typical U.S. Homebuyer Spends 39% of Their Income on Housing<\/b><\/h3>\n<p><span style=\"font-weight: 400;\"><br \/>\nWhile a rule of thumb in personal finance is to spend no more than 30% of income on housing, that has become less realistic as housing costs have climbed.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A household on the median income would need to spend 39% of their earnings on housing to buy the median priced home. But there\u2019s some good news: That\u2019s down from 40.5% last year, likely because incomes have risen while home prices have barely budged (the median U.S. home sale price is up just 1% year over year).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While only about one-third (34.6%) of home listings are affordable for the typical U.S. household, that\u2019s up slightly from 33.2% a year ago.<\/span><\/p>\n<h3><b>June 2025 Metro-Level Summary: 50 Most Populous U.S. Metros<\/b><\/h3>\n\n<table id=\"tablepress-471\" class=\"tablepress tablepress-id-471\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><strong>U.S. metro area<\/strong><\/th><th class=\"column-2\"><strong>Income needed to afford median priced home<\/strong><\/th><th class=\"column-3\"><strong>Income needed to afford median priced home, Y\/Y change<\/strong><\/th><th class=\"column-4\"><strong>Share of home listings affordable to household earning median estimated income<\/strong><\/th><th class=\"column-5\"><strong>Share of income typical household would need to spend to buy median priced home<\/strong><\/th><th class=\"column-6\"><strong>Median sale price<\/strong><\/th><th class=\"column-7\"><strong>Median sale price, Y\/Y change<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Anaheim, CA<\/td><td class=\"column-2\">$302,587 <\/td><td class=\"column-3\">2.9%<\/td><td class=\"column-4\">5.0%<\/td><td class=\"column-5\">72.7%<\/td><td class=\"column-6\">$1,245,000 <\/td><td class=\"column-7\">3.8%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Atlanta, GA<\/td><td class=\"column-2\">$103,719 <\/td><td class=\"column-3\">-2.0%<\/td><td class=\"column-4\">41.7%<\/td><td class=\"column-5\">32.3%<\/td><td class=\"column-6\">$407,500 <\/td><td class=\"column-7\">-3.0%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Austin, TX<\/td><td class=\"column-2\">$130,324 <\/td><td class=\"column-3\">0.7%<\/td><td class=\"column-4\">22.3%<\/td><td class=\"column-5\">36.4%<\/td><td class=\"column-6\">$449,945 <\/td><td class=\"column-7\">0.0%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Baltimore, MD<\/td><td class=\"column-2\">$108,802 <\/td><td class=\"column-3\">3.0%<\/td><td class=\"column-4\">55.9%<\/td><td class=\"column-5\">29.4%<\/td><td class=\"column-6\">$424,995 <\/td><td class=\"column-7\">3.7%<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Boston, MA<\/td><td class=\"column-2\">$204,465 <\/td><td class=\"column-3\">3.0%<\/td><td class=\"column-4\">10.5%<\/td><td class=\"column-5\">49.1%<\/td><td class=\"column-6\">$799,000 <\/td><td class=\"column-7\">3.7%<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">Charlotte, NC<\/td><td class=\"column-2\">$104,443 <\/td><td class=\"column-3\">1.3%<\/td><td class=\"column-4\">33.3%<\/td><td class=\"column-5\">35.2%<\/td><td class=\"column-6\">$426,415 <\/td><td class=\"column-7\">1.8%<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">Chicago, IL<\/td><td class=\"column-2\">$112,828 <\/td><td class=\"column-3\">6.7%<\/td><td class=\"column-4\">41.6%<\/td><td class=\"column-5\">34.6%<\/td><td class=\"column-6\">$385,000 <\/td><td class=\"column-7\">2.7%<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">Cincinnati, OH<\/td><td class=\"column-2\">$81,968 <\/td><td class=\"column-3\">5.4%<\/td><td class=\"column-4\">53.8%<\/td><td class=\"column-5\">27.9%<\/td><td class=\"column-6\">$315,000 <\/td><td class=\"column-7\">5.0%<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">Cleveland, OH<\/td><td class=\"column-2\">$72,538 <\/td><td class=\"column-3\">8.2%<\/td><td class=\"column-4\">56.9%<\/td><td class=\"column-5\">28.3%<\/td><td class=\"column-6\">$264,900 <\/td><td class=\"column-7\">8.1%<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">Columbus, OH<\/td><td class=\"column-2\">$96,209 <\/td><td class=\"column-3\">3.7%<\/td><td class=\"column-4\">41.9%<\/td><td class=\"column-5\">32.0%<\/td><td class=\"column-6\">$368,000 <\/td><td class=\"column-7\">5.1%<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">Dallas, TX<\/td><td class=\"column-2\">$120,542 <\/td><td class=\"column-3\">-0.2%<\/td><td class=\"column-4\">26.0%<\/td><td class=\"column-5\">35.8%<\/td><td class=\"column-6\">$425,000 <\/td><td class=\"column-7\">-1.2%<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">Denver, CO<\/td><td class=\"column-2\">$147,742 <\/td><td class=\"column-3\">0.0%<\/td><td class=\"column-4\">26.1%<\/td><td class=\"column-5\">38.9%<\/td><td class=\"column-6\">$604,771 <\/td><td class=\"column-7\">0.8%<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">Detroit, MI<\/td><td class=\"column-2\">$57,432 <\/td><td class=\"column-3\">9.9%<\/td><td class=\"column-4\">68.3%<\/td><td class=\"column-5\">26.4%<\/td><td class=\"column-6\">$215,000 <\/td><td class=\"column-7\">8.6%<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">Fort Lauderdale, FL<\/td><td class=\"column-2\">$124,627 <\/td><td class=\"column-3\">0.9%<\/td><td class=\"column-4\">35.3%<\/td><td class=\"column-5\">45.7%<\/td><td class=\"column-6\">$480,000 <\/td><td class=\"column-7\">1.0%<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">Fort Worth, TX<\/td><td class=\"column-2\">$104,124 <\/td><td class=\"column-3\">0.5%<\/td><td class=\"column-4\">25.9%<\/td><td class=\"column-5\">34.1%<\/td><td class=\"column-6\">$365,000 <\/td><td class=\"column-7\">0.0%<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">Houston, TX<\/td><td class=\"column-2\">$99,655 <\/td><td class=\"column-3\">0.3%<\/td><td class=\"column-4\">33.8%<\/td><td class=\"column-5\">33.2%<\/td><td class=\"column-6\">$346,000 <\/td><td class=\"column-7\">-0.9%<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">Indianapolis, IN<\/td><td class=\"column-2\">$82,766 <\/td><td class=\"column-3\">1.5%<\/td><td class=\"column-4\">56.2%<\/td><td class=\"column-5\">27.9%<\/td><td class=\"column-6\">$325,000 <\/td><td class=\"column-7\">1.6%<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">Jacksonville, FL<\/td><td class=\"column-2\">$94,618 <\/td><td class=\"column-3\">-3.5%<\/td><td class=\"column-4\">35.9%<\/td><td class=\"column-5\">32.8%<\/td><td class=\"column-6\">$370,000 <\/td><td class=\"column-7\">-3.9%<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">Kansas City, MO<\/td><td class=\"column-2\">$92,424 <\/td><td class=\"column-3\">1.9%<\/td><td class=\"column-4\">48.4%<\/td><td class=\"column-5\">30.2%<\/td><td class=\"column-6\">$359,900 <\/td><td class=\"column-7\">2.8%<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">Las Vegas, NV<\/td><td class=\"column-2\">$108,227 <\/td><td class=\"column-3\">0.3%<\/td><td class=\"column-4\">19.8%<\/td><td class=\"column-5\">40.0%<\/td><td class=\"column-6\">$449,900 <\/td><td class=\"column-7\">0.9%<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">Los Angeles, CA<\/td><td class=\"column-2\">$234,619 <\/td><td class=\"column-3\">2.0%<\/td><td class=\"column-4\">1.1%<\/td><td class=\"column-5\">73.0%<\/td><td class=\"column-6\">$950,000 <\/td><td class=\"column-7\">2.7%<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">Miami, FL<\/td><td class=\"column-2\">$146,476 <\/td><td class=\"column-3\">3.8%<\/td><td class=\"column-4\">10.7%<\/td><td class=\"column-5\">58.2%<\/td><td class=\"column-6\">$575,000 <\/td><td class=\"column-7\">4.0%<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">Milwaukee, WI<\/td><td class=\"column-2\">$96,671 <\/td><td class=\"column-3\">4.6%<\/td><td class=\"column-4\">40.5%<\/td><td class=\"column-5\">33.8%<\/td><td class=\"column-6\">$367,000 <\/td><td class=\"column-7\">4.7%<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">Minneapolis, MN<\/td><td class=\"column-2\">$105,206 <\/td><td class=\"column-3\">2.6%<\/td><td class=\"column-4\">49.7%<\/td><td class=\"column-5\">29.1%<\/td><td class=\"column-6\">$405,000 <\/td><td class=\"column-7\">3.3%<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">Montgomery County, PA<\/td><td class=\"column-2\">$138,478 <\/td><td class=\"column-3\">2.7%<\/td><td class=\"column-4\">39.9%<\/td><td class=\"column-5\">33.0%<\/td><td class=\"column-6\">$525,000 <\/td><td class=\"column-7\">3.5%<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">Nashville, TN<\/td><td class=\"column-2\">$115,992 <\/td><td class=\"column-3\">1.2%<\/td><td class=\"column-4\">25.9%<\/td><td class=\"column-5\">36.9%<\/td><td class=\"column-6\">$485,000 <\/td><td class=\"column-7\">2.1%<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">Nassau County, NY<\/td><td class=\"column-2\">$207,386 <\/td><td class=\"column-3\">5.2%<\/td><td class=\"column-4\">12.4%<\/td><td class=\"column-5\">41.8%<\/td><td class=\"column-6\">$745,000 <\/td><td class=\"column-7\">6.4%<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">New Brunswick, NJ<\/td><td class=\"column-2\">$158,640 <\/td><td class=\"column-3\">3.7%<\/td><td class=\"column-4\">24.1%<\/td><td class=\"column-5\">39.2%<\/td><td class=\"column-6\">$575,000 <\/td><td class=\"column-7\">4.6%<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">New York, NY<\/td><td class=\"column-2\">$213,245 <\/td><td class=\"column-3\">4.6%<\/td><td class=\"column-4\">8.2%<\/td><td class=\"column-5\">64.9%<\/td><td class=\"column-6\">$810,000 <\/td><td class=\"column-7\">5.9%<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">Newark, NJ<\/td><td class=\"column-2\">$186,124 <\/td><td class=\"column-3\">6.8%<\/td><td class=\"column-4\">14.3%<\/td><td class=\"column-5\">50.0%<\/td><td class=\"column-6\">$670,000 <\/td><td class=\"column-7\">8.9%<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\">Oakland, CA<\/td><td class=\"column-2\">$244,073 <\/td><td class=\"column-3\">-4.6%<\/td><td class=\"column-4\">13.1%<\/td><td class=\"column-5\">52.9%<\/td><td class=\"column-6\">$968,444 <\/td><td class=\"column-7\">-4.6%<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\">Orlando, FL<\/td><td class=\"column-2\">$104,644 <\/td><td class=\"column-3\">-0.7%<\/td><td class=\"column-4\">23.5%<\/td><td class=\"column-5\">37.7%<\/td><td class=\"column-6\">$410,000 <\/td><td class=\"column-7\">-1.1%<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\">Philadelphia, PA<\/td><td class=\"column-2\">$82,329 <\/td><td class=\"column-3\">4.5%<\/td><td class=\"column-4\">50.0%<\/td><td class=\"column-5\">33.0%<\/td><td class=\"column-6\">$320,000 <\/td><td class=\"column-7\">5.9%<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\">Phoenix, AZ<\/td><td class=\"column-2\">$109,719 <\/td><td class=\"column-3\">-1.8%<\/td><td class=\"column-4\">25.6%<\/td><td class=\"column-5\">35.3%<\/td><td class=\"column-6\">$459,925 <\/td><td class=\"column-7\">-1.1%<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\">Pittsburgh, PA<\/td><td class=\"column-2\">$70,786 <\/td><td class=\"column-3\">5.7%<\/td><td class=\"column-4\">63.8%<\/td><td class=\"column-5\">25.8%<\/td><td class=\"column-6\">$270,000 <\/td><td class=\"column-7\">6.9%<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\">Portland, OR<\/td><td class=\"column-2\">$147,029 <\/td><td class=\"column-3\">1.8%<\/td><td class=\"column-4\">17.6%<\/td><td class=\"column-5\">42.4%<\/td><td class=\"column-6\">$579,000 <\/td><td class=\"column-7\">2.5%<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\">Providence, RI<\/td><td class=\"column-2\">$135,557 <\/td><td class=\"column-3\">4.2%<\/td><td class=\"column-4\">10.7%<\/td><td class=\"column-5\">43.2%<\/td><td class=\"column-6\">$525,000 <\/td><td class=\"column-7\">5.0%<\/td>\n<\/tr>\n<tr class=\"row-39\">\n\t<td class=\"column-1\">Riverside, CA<\/td><td class=\"column-2\">$149,279 <\/td><td class=\"column-3\">1.4%<\/td><td class=\"column-4\">10.6%<\/td><td class=\"column-5\">47.3%<\/td><td class=\"column-6\">$595,000 <\/td><td class=\"column-7\">2.1%<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\">Sacramento, CA<\/td><td class=\"column-2\">$150,939 <\/td><td class=\"column-3\">-0.4%<\/td><td class=\"column-4\">10.2%<\/td><td class=\"column-5\">43.6%<\/td><td class=\"column-6\">$600,000 <\/td><td class=\"column-7\">0.0%<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\">San Antonio, TX<\/td><td class=\"column-2\">$90,667 <\/td><td class=\"column-3\">1.8%<\/td><td class=\"column-4\">34.3%<\/td><td class=\"column-5\">32.9%<\/td><td class=\"column-6\">$320,000 <\/td><td class=\"column-7\">2.2%<\/td>\n<\/tr>\n<tr class=\"row-42\">\n\t<td class=\"column-1\">San Diego, CA<\/td><td class=\"column-2\">$227,612 <\/td><td class=\"column-3\">-3.2%<\/td><td class=\"column-4\">4.0%<\/td><td class=\"column-5\">60.8%<\/td><td class=\"column-6\">$920,000 <\/td><td class=\"column-7\">-3.1%<\/td>\n<\/tr>\n<tr class=\"row-43\">\n\t<td class=\"column-1\">San Francisco, CA<\/td><td class=\"column-2\">$393,443 <\/td><td class=\"column-3\">0.9%<\/td><td class=\"column-4\">7.7%<\/td><td class=\"column-5\">72.5%<\/td><td class=\"column-6\">$1,600,000 <\/td><td class=\"column-7\">1.6%<\/td>\n<\/tr>\n<tr class=\"row-44\">\n\t<td class=\"column-1\">San Jose, CA<\/td><td class=\"column-2\">$413,100 <\/td><td class=\"column-3\">3.9%<\/td><td class=\"column-4\">9.0%<\/td><td class=\"column-5\">71.4%<\/td><td class=\"column-6\">$1,687,500 <\/td><td class=\"column-7\">4.8%<\/td>\n<\/tr>\n<tr class=\"row-45\">\n\t<td class=\"column-1\">Seattle, WA<\/td><td class=\"column-2\">$219,498 <\/td><td class=\"column-3\">1.8%<\/td><td class=\"column-4\">14.1%<\/td><td class=\"column-5\">50.7%<\/td><td class=\"column-6\">$874,975 <\/td><td class=\"column-7\">2.9%<\/td>\n<\/tr>\n<tr class=\"row-46\">\n\t<td class=\"column-1\">St. Louis, MO<\/td><td class=\"column-2\">$75,478 <\/td><td class=\"column-3\">-1.0%<\/td><td class=\"column-4\">63.4%<\/td><td class=\"column-5\">25.9%<\/td><td class=\"column-6\">$293,745 <\/td><td class=\"column-7\">-0.4%<\/td>\n<\/tr>\n<tr class=\"row-47\">\n\t<td class=\"column-1\">Tampa, FL<\/td><td class=\"column-2\">$97,463 <\/td><td class=\"column-3\">-2.1%<\/td><td class=\"column-4\">24.5%<\/td><td class=\"column-5\">37.2%<\/td><td class=\"column-6\">$380,000 <\/td><td class=\"column-7\">-2.6%<\/td>\n<\/tr>\n<tr class=\"row-48\">\n\t<td class=\"column-1\">Virginia Beach, VA<\/td><td class=\"column-2\">$95,217 <\/td><td class=\"column-3\">2.7%<\/td><td class=\"column-4\">42.0%<\/td><td class=\"column-5\">31.5%<\/td><td class=\"column-6\">$377,000 <\/td><td class=\"column-7\">3.3%<\/td>\n<\/tr>\n<tr class=\"row-49\">\n\t<td class=\"column-1\">Warren, MI<\/td><td class=\"column-2\">$87,096 <\/td><td class=\"column-3\">1.6%<\/td><td class=\"column-4\">51.7%<\/td><td class=\"column-5\">27.3%<\/td><td class=\"column-6\">$330,000 <\/td><td class=\"column-7\">1.5%<\/td>\n<\/tr>\n<tr class=\"row-50\">\n\t<td class=\"column-1\">Washington, D.C.<\/td><td class=\"column-2\">$155,308 <\/td><td class=\"column-3\">2.0%<\/td><td class=\"column-4\">42.8%<\/td><td class=\"column-5\">33.3%<\/td><td class=\"column-6\">$610,000 <\/td><td class=\"column-7\">2.5%<\/td>\n<\/tr>\n<tr class=\"row-51\">\n\t<td class=\"column-1\">West Palm Beach, FL<\/td><td class=\"column-2\">$128,950 <\/td><td class=\"column-3\">-3.7%<\/td><td class=\"column-4\">32.4%<\/td><td class=\"column-5\">43.4%<\/td><td class=\"column-6\">$503,390 <\/td><td class=\"column-7\">-4.1%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-471 from cache -->\n<h3><b>Methodology<\/b><\/h3>\n<p><b><br \/>\n<\/b><span style=\"font-weight: 400;\">We consider a home affordable if a buyer spends no more than 30% of their income on their housing payment. In this report, the word \u201chomebuyer\u201d refers to someone who is taking out a loan to finance their purchase.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The income needed to afford the typical home is calculated using the prevailing median home sale price and average mortgage-interest rate during the month of June, and assumes a 20% down payment. The typical housing payments noted in this report include the mortgage principal, interest, property taxes, homeowners\u2019 insurance and mortgage insurance. The 2025 median household income is estimated using the U.S. Census Bureau\u2019s (ACS) 2023 median household income and 12-month moving average nominal wage growth rates compiled from the Current Population Survey and reported by the Federal Reserve Bank of Atlanta. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The income needed to afford the typical U.S. home has fallen year over year in almost a dozen major metros, most of which are Sun Belt boomtowns that have seen a drop in home prices amid surging inventory. Nationwide, the typical homebuyer needs to earn $112,131 per year to afford the median priced home\u2014roughly $25,000 [&hellip;]<\/p>\n","protected":false},"author":13346,"featured_media":81526,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[27,8],"tags":[20],"dashboard":[],"coauthors":[125],"class_list":["post-81608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-affordability","category-housing-market-news","tag-housing-affordability"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Housing Affordability Is Improving in These 11 Places<\/title>\n<meta name=\"description\" content=\"Nationwide, the typical homebuyer needs to earn $112,131 to afford the median priced home\u2014roughly $25,000 more than the typical household makes.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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