even at median prices Given current interest rates, an American getting a mortgage today is going to be paying something like $2,000/month more just in interes

even at median prices Given current interest rates, an American getting a mortgage today is going to be paying something like $2,000/month more just in interest than they were in early 2021, which is when I bought my house in Seattle. At $799,000, you're looking at a monthly payment around $5,800/month. The definition of being cost-burdened on housing is when you spend more than 30% of your gross income on housing. That means you'd need a gross monthly income of $19,333 or $232,000 annually to not be rent-burdened in Seattle buying a median priced home.