First-time buyers need to earn $64,500 to afford a typical starter home
Housing Wire
JULY 28, 2023
High mortgages and stubbornly elevated home prices are worsening the housing affordability crisis. A first-time homebuyer must earn roughly $64,500 per year to afford the typical U.S. starter” home, up 13% from a year ago, according to a new report from Redfin. home , assuming a 20% downpayment, rose 12.4%
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