Overview

• 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.