Overview
- A Bankrate report finds more than three-quarters of U.S. homes are unaffordable to the typical household, with buyers needing about $113,000 to afford a median-priced home and facing roughly a $30,000 income gap.
- The share of U.S. home sales to first-time buyers fell to 24% last year, according to the National Association of Realtors, underscoring the barriers to entry.
- Zillow estimates the nation is short roughly 4.7 million homes, a supply gap analysts say is a core driver of elevated prices and scant affordable listings.
- Affordability varies widely: several major coastal metros require six-figure incomes well above $200,000, while markets like Pittsburgh and St. Louis still offer comparatively accessible options.
- KPMG reports the share of Australian homes affordable to an average first-home buyer has dropped to 12%, with an estimated $180,000 household income needed for a typical $760,000 purchase and only about one in 20 homes affordable in New South Wales.