For the first time in history, you need to have a six-figure income to afford a home in the US.
According to Reventure, the annual income required to purchase a home is now $111,000.
However, the median household income in the US is only $78,000, which is ~30% below this threshold.
Just 3 years ago, in 2020, an annual income of $60,000 was required to purchase a home.
In other words, the income required to purchase housing has increased by 85% in 3 years.
The gap between median income and the income needed to purchase a home is ~25% BIGGER than in 2008.
