Overview
- Bankrate’s new analysis finds more than three-quarters of U.S. homes for sale are unaffordable to the typical household.
- To buy a median-priced U.S. home, households need about $113,000 in income versus roughly $84,000 earned, leaving a gap of about $30,000 as the typical home costs around $435,000.
- In high-cost metros such as New York, San Francisco and Seattle, households must earn roughly $200,000 or more to afford a median-priced home.
- Zillow estimates the U.S. is short by about 4.7 million housing units, reinforcing economists’ calls for supply-focused reforms.
- KPMG reports Australia’s first-home affordability has plunged from 30% of listings in 2019–20 to 12% in 2024–25, with about $180,000 needed to service a typical first loan and only a one-in-20 chance in Sydney at that income.