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Bored Bat

Bored Bat

Homebuyers need to earn 80% more than they did in 2020 to afford a home in today’s market

Bored Bat
Summary
Nutrition label

72% Informative

In 2020 , a household earning $ 59,000 a year could afford a typical home priced at about $240,815 .

Today , those shopping for a home need to earn $ 106,000 annually to afford a median-priced home for $ 342,941 .

That's $ 47,000 more than they needed to earn in 2020 to afford home.

Average age of entry-level buyers moved up to 36 , Fannie Mae found, up just five years ago .

Pittsburgh was the most affordable metro area , where buyers need an average household income of at least $58,232 to purchase a median-priced home.

Memphis, which required an income of $ 69,976 , Cleveland ($ 70,048 ), and Birmingham ($ 74,338 ), according to Zillow .

Seven markets among major metros where would-be buyers need to earn $ 200,000 or more to afford typical home.

VR Score

82

Informative language

87

Neutral language

48

Article tone

semi-formal

Language

English

Language complexity

33

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

no external sources

Source diversity

no sources

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