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Homeownership further out of reach as rising prices, high mortgage rates widen affordability gap

Associated Press News
Summary
Nutrition label

83% Informative

A homebuyer now needs to earn at least $114,000 a year to afford a $ 431,250 home.

Six years ago , the median U.S. home listing price was $ 314,950 , and the average rate on a 30-year mortgage hovered around 4.1% . This week , the average mortgage rate averaged 6.76% .

In several metro areas, San Francisco , Los Angeles , New York and Boston , annual income needed to afford median-priced home tops $ 200,000 .

VR Score

90

Informative language

93

Neutral language

41

Article tone

formal

Language

English

Language complexity

39

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

Source diversity

1

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