Homeownership Unaffordable for Most Families
Update: 2025-12-08
Description
Homeownership in the U.S. is becoming increasingly unattainable, with over 75% of homes now unaffordable for the average household. Bankrate reports that only a small portion of the housing market is affordable, and homeownership is losing its status as a common milestone. High home prices, driven by a shortage of affordable housing, have made it difficult for many Americans to buy, with only 24% of home sales last year being to first-time buyers. The U.S. needs about 4.7 million more housing units to meet current demand. The median household income is nearly $84,000, but to afford a typical home, which costs around $435,000, a household needs an annual income of about $113,000. However, there may be some relief in 2026, as mortgage rates are expected to slightly decrease.
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