US Homeownership Costs Reach Highest Levels Since 2007

New data reveals that nearly 99% of US counties are less affordable than historical averages, with homeownership expenses consuming a larger portion of wages.

Typical homeownership costs now account for 35.1% of the average national wage.
582 out of 589 counties analyzed are less affordable than their historic averages.
High mortgage rates and rising home prices are the main drivers of the affordability crisis.
In more than a third of the counties, homeowners spend at least 43% of their wages on housing.
The affordability issue is most severe in the West and Northeast regions of the US.