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Study: Hopeful homebuyers need income of nearly $117,000 to afford typical home in U.S.
(www.bankrate.com)
this post was submitted on 25 Apr 2025
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right. yeah. we know. and how many Americans have a 6-digit salary? It's not "more than half".
The median US salary is ~$62K.
also the average is going to lean cheap rural. cities are all going to be above this and major cities majorly more.
It would be nice to be able to review their methodology. Averages are often pointless metrics. They don't even hint at how they arrived at 'typical.'
Edit: My bad. They define typical as $418,489.
keep in mind that a married couple can combine incomes.
it'd be damn hard to afford a mortgage on your own but two people can make it work quite comfortably
it's possible, with the GDP we have right now, for every single american to afford a home. Americans have been propagandized into thinking that we need a billionaire class, that they need bailouts and tax cuts and no oversight, that they should be able to get away with murder in the courts, more than they need a safe place to rest their heads at night. My heart is broken for them. I wish everyone were as angry as me.