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The American dream now comes with a ZIP code: Here's where starter homes are still within reach
The income needed to afford a typical starter home has surged roughly $35,000 since 2019, but recovery varies sharply by region for first-time buyers.
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For many would-be homeowners, the financial hurdle to buying a starter home has grown dramatically over the past seven years.
The income needed to afford a typical starter home has jumped more than 80% since 2019, according to a new Realtor.com report.
Americans now need an annual household income of about $78,000 to afford a typical starter home, up from roughly $43,000 in 2019—an increase that has far outpaced wage growth and left many first-time buyers struggling to break into the housing market.
"First-time buyers aren't sitting on the sidelines because they don't want to own a home—it's because, for many of them, it's just not possible right now," Hannah Jones, senior economist at Realtor.com, told Fox News Digital.
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