Overview

• Realtor.com's August 2025 Buying Power Report sets the maximum affordable purchase price for a median-income household at $298,000, down from $325,000 in 2019.
• With 30-year mortgage rates hovering near roughly 6.75%–7%, a $320,000 loan costs about $600 more per month than at 2019’s average rate.
• National inventory exceeds 1.9 million listings, yet availability remains below 2019 levels in many areas and lower-priced homes are scarce.
• Buyers are intensifying competition for affordable listings, renting longer, and delaying household formation, the report says.
• Affordability diverges by metro, with just 13.1% of New York listings within reach in July, while Cleveland saw modest buying-power gains; estimates assume a 20% down payment on a 30-year fixed mortgage.