Someone making the $78,642 median U.S. income in 2023 would’ve had to spend 41.4% of their earnings on monthly housing costs if they bought the $408,806 median-priced U.S. home. That’s the highest share on record and is up from 38.7% in 2022. That’s according to a Redfin analysis that estimates monthly housing payments for the […]
Category Archives: Mortgage News
16
Oct
Oct
The newest generation of homebuyers are flocking to the Midwest. Cities with the most homebuyers under the age of 25 are located in this more affordable part of the country, a new study released by Construction Coverage found. The study used data from the Federal Financial Institutions Examination Council’s 2022 Home Mortgage Disclosure Act, and […]
26
Jun
Jun
If you look at where $250,000 in household income buys you the most house, all of the top ten cities are in the South. The purchasing power of a $250,000 salary, for instance, depends largely on a city’s cost of living and overall tax environment. High earners might be able to maximize their earnings and […]