- Buyers would need to earn six figures to afford a median-priced home in all but 15 states
- The average four-person household can’t afford the mortgage on a median three-bedroom home.
Highest: In Hawaii, a median three-bedroom home costs 229K salary. Lowest: In West Virginia, the buyer needs a 90K median income.
I have purchased a house in at least one of those states, while earning significantly less than the "needed" income, and it was a very good financial move.
Mortgage seems to be increasing rapidly in the US