3 ms·
Median household income (https://www.census.gov/library/publications/2023/demo/p60-279.html https://www.census.gov/library/publications/2023/demo/p60-27...): $7
by dsr_ 3y ago
Median household income (https://www.census.gov/library/publications/2023/demo/p60-279.html https://www.census.gov/library/publications/2023/demo/p60-27...): $74580
Median house price, per article: $388,000.
Today's average 30 year fixed mortgage rate is 7%. Assuming a 10% down payment, 0.5% to private mortgage insurance, and the usual bits and bobs, that approximates a $2800/month payment, or $33600 per year, which is 45% of that median income.
That's not affordable, by anyone's definition.