This means that a first-time homebuyer needs to earn an annual salary of around $64,500 — which is over $10,000 higher than the average wage of Americans aged 25-34 — and up 13% from $57,222 a year ago.
This means that a first-time homebuyer needs to earn an annual salary of around $64,500 — which is over $10,000 higher than the average wage of Americans aged 25-34 — and up 13% from $57,222 a year ago.
That’s the average nationwide. What really happens is in small rural town houses go for closer to 150-200k but nobody can afford them anyway because wages are awful in those towns. Then in major cities your wages are higher but congratulations, entry level housing is 300-500k or more.