{"id":85687,"date":"2026-05-26T05:30:05","date_gmt":"2026-05-26T12:30:05","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=85687"},"modified":"2026-05-22T11:26:32","modified_gmt":"2026-05-22T18:26:32","slug":"income-needed-to-buy-home-declines","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/income-needed-to-buy-home-declines\/","title":{"rendered":"The Income Needed to Afford a Home Declined For Seventh Straight Month in April"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>Homebuying affordability improved slightly in April because mortgage rates declined while incomes rose. Still, the income required to afford a home was $29,000 higher than the typical U.S. income<strong>\u2013and mortgage rates rose again in May, potentially erasing some of the affordability gains made in April. <\/strong><\/i><\/strong><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>A household earning the average U.S. income would need to spend 40% of their income on the median-priced home, down from 42% a year ago.\u00a0<\/i><\/strong><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>33% of home listings are affordable, up from 29% a year ago\u2013but down from more than half five years ago.\u00a0<\/i><\/strong><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>Buying a home is getting more affordable in 34 of the 50 most populous U.S. metros, led by Chicago, Oakland and Dallas.\u00a0<\/i><\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Americans needed to earn $116,780 to afford the typical U.S. home for sale in April, down 2% from $119,191 a year earlier. That marks the seventh straight month in which buying a home became more affordable on a year-over-year basis. The income needed to afford a home peaked at $122,000 in mid-2025.<\/span><\/p>\n<div id=\"datawrapper-vis-KrY9q\" style=\"min-height: 438px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/KrY9q\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-KrY9q\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/KrY9q\/full.png\" alt=\"Americans Must Earn $117K to Afford Typical Home (Line chart)\" \/><\/noscript><\/div>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">We consider a home affordable if a buyer taking out a mortgage would spend no more than 30% of their income on their monthly housing payment. This is based on a Redfin analysis of median home sale prices, prevailing mortgage rates and property-tax payments, and assumes a 15% down payment. This report focuses on April 2026\u2014the most recent period for which data is available.<\/span><\/p>\n<p><b>Homebuying affordability improved because monthly housing costs are decreasing while incomes are increasing:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Housing costs came down in April because the average 30-year fixed rate was lower than a year earlier; April\u2019s monthly average was <\/span><a href=\"https:\/\/fred.stlouisfed.org\/graph\/?g=1bnGA\"><span style=\"font-weight: 400;\">6.33%<\/span><\/a><span style=\"font-weight: 400;\">, down from 6.73%.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The estimated median household income was $87,599, up 4% year over year.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Still, the median home-sale price <\/span><a href=\"https:\/\/www.redfin.com\/news\/home-prices-rise-april-2026\/\"><span style=\"font-weight: 400;\">rose 2.4%<\/span><\/a><span style=\"font-weight: 400;\"> year over year in April, which is why affordability is improving only slightly. Note that mortgage rates <a href=\"https:\/\/www.mortgagenewsdaily.com\/mortgage-rates\/30-year-fixed\">jumped<\/a> in May, with the weekly average hitting <a href=\"https:\/\/www.freddiemac.com\/pmms\">6.51%<\/a>. Because of that increase, house hunters locking in a rate now may not find the market more affordable than a year ago.\u00a0 <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The income required to afford a home soared in 2022 and 2023: Home prices skyrocketed amid the pandemic homebuying frenzy, then mortgage rates doubled. Now, the tide is slowly turning, with the income needed to afford a home consistently dropping since October 2025. <\/span><span style=\"font-weight: 400;\">Still, it\u2019s about $29,000 higher than the typical U.S. household income of roughly $88,000.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cAmericans still need a six-figure income to afford a regular home, but it\u2019s encouraging that affordability is gradually improving,\u201d said Redfin Economist <\/span><a href=\"https:\/\/www.redfin.com\/news\/author\/grishma-bhattarai\/\"><span style=\"font-weight: 400;\">Grishma Bhattarai<\/span><\/a><span style=\"font-weight: 400;\">. \u201cHouse hunters who have been waiting on the sidelines may want to start paying close attention: In addition to costs coming down, there are still <\/span><a href=\"https:\/\/www.redfin.com\/news\/home-prices-rise-april-2026\/\"><span style=\"font-weight: 400;\">more homes<\/span><\/a><span style=\"font-weight: 400;\"> on the market than there were a year ago, many <\/span><a href=\"https:\/\/www.redfin.com\/news\/buyers-vs-sellers-april-2026\/\"><span style=\"font-weight: 400;\">more sellers than buyers<\/span><\/a><span style=\"font-weight: 400;\">, and more room for buyers to negotiate. Buyers are starting to notice: Pending home sales <a href=\"https:\/\/www.redfin.com\/news\/housing-market-update-pending-home-sales-jump\/\">jumped<\/a> in early May<\/span><span style=\"font-weight: 400;\">, which may lead to more bidding wars and bigger price increases.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Redfin economists expect housing affordability to <\/span><a href=\"https:\/\/www.redfin.com\/news\/housing-market-predictions-2026\/\"><span style=\"font-weight: 400;\">continue to improve<\/span><\/a><span style=\"font-weight: 400;\"> slightly throughout this year. But that <\/span><a href=\"https:\/\/www.redfin.com\/news\/weekly-economic-update-may-4-2026\/\"><span style=\"font-weight: 400;\">could be derailed<\/span><\/a><span style=\"font-weight: 400;\"> if the Iran war continues pushing up oil prices, the Fed hikes interest rates or the economy experiences another shock.\u00a0<\/span><\/p>\n<h3><b>Housing Costs Are Consuming a Smaller Share of Buyers\u2019 Budgets<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">While a common rule of thumb in housing is that you should spend no more than 30% of your income on your monthly housing payment, that isn&#8217;t realistic for everyone.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The typical American homebuyer would need to spend 40% of their income to buy the median-priced U.S. home. But the good news is that&#8217;s down from 42.4% a year ago.<\/span><\/p>\n<div id=\"datawrapper-vis-U0rsm\" style=\"min-height: 463px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/U0rsm\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-U0rsm\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/U0rsm\/full.png\" alt=\"Typical American Would Need to Spend 40% of Their Income on Housing (Line chart)\" \/><\/noscript><\/div>\n<p>&nbsp;<\/p>\n<h3><b>33% of Home Listings Are Affordable, Up From 28% Last Year<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">To look at improving affordability one more way, the share of home listings that are affordable\u2013i.e. they would require no more than 30% of income spent on housing\u2013has increased over the last year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One-third (32.9%) of U.S. home listings were affordable to someone earning the median income in April, up from 28.7% a year earlier.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Still, there are far fewer affordable home listings than there used to be. Before mortgage rates shot up in 2022, more than half of U.S. home listings were affordable to the typical American nearly every single month in records dating back through 2013.\u00a0<\/span><\/p>\n<div id=\"datawrapper-vis-gLBv6\" style=\"min-height: 446px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/gLBv6\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-gLBv6\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/gLBv6\/full.png\" alt=\"One-Third of Home Listings Are Affordable to the Typical American Family (Line chart)\" \/><\/noscript><\/div>\n<p>&nbsp;<\/p>\n<h3><b>Homebuying Is Getting More Affordable in Most Major Metros, Led By Chicago\u00a0\u00a0<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Homebuying affordability is improving in 35 of the 50 most populous U.S. metro areas.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In Chicago, homebuyers needed to earn $101,075 to afford the median-priced home in April, down 13.3% year over year\u2013the biggest decline of the 50 most populous U.S. metros. San Jose, CA had the second-biggest improvement in affordability: Buyers there must earn $426,318, down 5.6% year over year. Seattle, where buyers must earn $219,313, down 5.5%, rounds out the top three.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are nine metros\u2013all in the eastern half of the U.S.\u2013where the typical household earns more than what\u2019s required to afford a home: Baltimore, Cincinnati, Cleveland, Detroit, Indianapolis, Minneapolis, Pittsburgh, St. Louis and Warren, MI.\u00a0<\/span><\/p>\n<h3><b>Buying a Home Is Getting Less Affordable in San Francisco and Other Seller\u2019s Markets\u00a0<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">San Francisco homebuyers needed an income of $443,979 to afford the median-priced local home in April, up 7% year over year\u2013the highest income required and the biggest increase of the metros Redfin analyzed. That\u2019s because San Francisco home prices are <\/span><a href=\"https:\/\/www.redfin.com\/news\/san-francisco-home-prices-march-2026\/\"><span style=\"font-weight: 400;\">shooting up<\/span><\/a><span style=\"font-weight: 400;\">, partly due to the AI boom.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The next biggest increases were in Philadelphia (5.7% to $85,541) and Providence, RI (4.7% to $143,195). Providence is one of just seven <\/span><a href=\"https:\/\/www.redfin.com\/news\/buyers-vs-sellers-april-2026\/\"><span style=\"font-weight: 400;\">seller\u2019s markets<\/span><\/a><span style=\"font-weight: 400;\"> in the U.S.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"6\"><b>Metro-Level Summary: Income Needed to Afford a Home, April 2026<\/b><\/p>\n<p><i><span style=\"font-weight: 400;\">We analyzed the 50 most populous U.S. CSBAs and included the 49 with sufficient data<\/span><\/i><\/td>\n<\/tr>\n<tr>\n<td><b>U.S. metro area<\/b><\/td>\n<td><b>Income required to afford a home<\/b><\/td>\n<td><b>Income required to afford a home, YoY change<\/b><\/td>\n<td><b>Estimated median household income<\/b><\/td>\n<td><b>Share of income required to afford a home<\/b><\/td>\n<td><b>Share of listings affordable to median-earning household<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Anaheim, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$319,840<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$126,178<\/span><\/td>\n<td><span style=\"font-weight: 400;\">76.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Atlanta, GA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$107,113<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-3.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$98,778<\/span><\/td>\n<td><span style=\"font-weight: 400;\">32.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">37.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Austin, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$133,390<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-4.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$109,059<\/span><\/td>\n<td><span style=\"font-weight: 400;\">36.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">23.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Baltimore, MD<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$108,416<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$112,328<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">55.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Boston, MA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$207,511<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$127,467<\/span><\/td>\n<td><span style=\"font-weight: 400;\">48.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Charlotte, NC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$106,449<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$91,545<\/span><\/td>\n<td><span style=\"font-weight: 400;\">34.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">32.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Chicago, IL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$101,075<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-13.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$98,502<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">48.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cincinnati, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$85,615<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$89,002<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">49.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cleveland, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$73,261<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$78,519<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">56.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Columbus, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$99,787<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$91,468<\/span><\/td>\n<td><span style=\"font-weight: 400;\">32.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">41.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Dallas, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$122,952<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-4.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$103,144<\/span><\/td>\n<td><span style=\"font-weight: 400;\">35.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Denver, CO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$155,507<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$116,323<\/span><\/td>\n<td><span style=\"font-weight: 400;\">40.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">27.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Detroit, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$56,219<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$65,687<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">71.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Fort Worth, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$107,260<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$93,102<\/span><\/td>\n<td><span style=\"font-weight: 400;\">34.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">24.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Houston, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$101,964<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$90,865<\/span><\/td>\n<td><span style=\"font-weight: 400;\">33.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Indianapolis, IN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$86,460<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$90,927<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">52.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Jacksonville, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$100,799<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$88,715<\/span><\/td>\n<td><span style=\"font-weight: 400;\">34.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">34.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Kansas City, MO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$95,583<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$92,718<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">43.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Las Vegas, NV<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$111,556<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-5.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$82,975<\/span><\/td>\n<td><span style=\"font-weight: 400;\">40.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Los Angeles, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$242,495<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$97,775<\/span><\/td>\n<td><span style=\"font-weight: 400;\">74.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Miami, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$154,477<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-4.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$77,854<\/span><\/td>\n<td><span style=\"font-weight: 400;\">59.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Milwaukee, WI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$98,226<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$86,909<\/span><\/td>\n<td><span style=\"font-weight: 400;\">33.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">42.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Minneapolis, MN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$107,835<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-4.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$108,714<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">46.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Montgomery County, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$142,081<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$127,721<\/span><\/td>\n<td><span style=\"font-weight: 400;\">33.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">36.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nashville, TN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$120,317<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$96,448<\/span><\/td>\n<td><span style=\"font-weight: 400;\">37.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nassau County, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$214,059<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$149,811<\/span><\/td>\n<td><span style=\"font-weight: 400;\">42.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New Brunswick, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$162,669<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$122,960<\/span><\/td>\n<td><span style=\"font-weight: 400;\">39.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New York, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$219,485<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$98,287<\/span><\/td>\n<td><span style=\"font-weight: 400;\">67.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Newark, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$183,219<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-4.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$113,773<\/span><\/td>\n<td><span style=\"font-weight: 400;\">48.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Oakland, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$251,591<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-3.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$139,407<\/span><\/td>\n<td><span style=\"font-weight: 400;\">54.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Orlando, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$111,110<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$85,400<\/span><\/td>\n<td><span style=\"font-weight: 400;\">39.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Philadelphia, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$85,541<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$75,254<\/span><\/td>\n<td><span style=\"font-weight: 400;\">34.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">47.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Phoenix, AZ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$115,538<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$95,979<\/span><\/td>\n<td><span style=\"font-weight: 400;\">36.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Pittsburgh, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$73,411<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$83,419<\/span><\/td>\n<td><span style=\"font-weight: 400;\">26.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">59.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Portland, OR<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$149,369<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-3.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$105,952<\/span><\/td>\n<td><span style=\"font-weight: 400;\">42.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Providence, RI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$143,195<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$94,620<\/span><\/td>\n<td><span style=\"font-weight: 400;\">45.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Riverside, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$155,689<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-3.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$97,116<\/span><\/td>\n<td><span style=\"font-weight: 400;\">48.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Sacramento, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$155,362<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-3.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$105,873<\/span><\/td>\n<td><span style=\"font-weight: 400;\">44.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Antonio, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$90,573<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-4.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$83,650<\/span><\/td>\n<td><span style=\"font-weight: 400;\">32.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">36.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Diego, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$242,657<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$115,304<\/span><\/td>\n<td><span style=\"font-weight: 400;\">63.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Francisco, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$443,979<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$162,118<\/span><\/td>\n<td><span style=\"font-weight: 400;\">82.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Jose, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$426,318<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-5.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$176,401<\/span><\/td>\n<td><span style=\"font-weight: 400;\">72.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Seattle, WA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$219,313<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-5.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$131,404<\/span><\/td>\n<td><span style=\"font-weight: 400;\">50.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">St. Louis, MO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$77,743<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$88,593<\/span><\/td>\n<td><span style=\"font-weight: 400;\">26.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">60.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Tampa, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$102,854<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$81,390<\/span><\/td>\n<td><span style=\"font-weight: 400;\">37.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Virginia Beach, VA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$99,780<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$91,854<\/span><\/td>\n<td><span style=\"font-weight: 400;\">32.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">33.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Warren, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$86,880<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-3.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$96,676<\/span><\/td>\n<td><span style=\"font-weight: 400;\">27.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">54.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Washington, DC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$163,491<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$141,029<\/span><\/td>\n<td><span style=\"font-weight: 400;\">34.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">41.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">West Palm Beach, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$140,739<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$90,688<\/span><\/td>\n<td><span style=\"font-weight: 400;\">46.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.9%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Homebuying affordability improved slightly in April because mortgage rates declined while incomes rose. Still, the income required to afford a home was $29,000 higher than the typical U.S. income\u2013and mortgage rates rose again in May, potentially erasing some of the affordability gains made in April. A household earning the average U.S. income would need to [&hellip;]<\/p>\n","protected":false},"author":13153,"featured_media":85691,"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":"","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 center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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":[124,688],"class_list":["post-85687","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 v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Income Needed to Afford a Home Declines<\/title>\n<meta name=\"description\" content=\"Homebuying affordability improved slightly in April because mortgage rates declined while incomes rose. 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