• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home World News Us & Canada

Buying a home in the U.S. now requires earning at least $100,000, data shows

February 22, 2025
in Us & Canada
Reading Time: 2 mins read
A A
0
Buying a home in the U.S. now requires earning at least $100,000, data shows
2
SHARES
5
VIEWS
Share on FacebookShare on Twitter

Do you need to make more than $100,000 to buy a home? More and more, the answer is yes.

The median income for new homebuyers has increased sharply since the Covid pandemic and surpassed six figures, according to an NBC News analysis of U.S. Census Bureau data. Experts say this is an omen of economic distress. The change reflects the exclusivity of today’s housing market, one where even prospective buyers with a six-figure salary can struggle.

New homebuying households earned a median income of $110,000 in 2023, NBC News’ analysis found, with buyers 40 years old and under earning $114,000. Among those younger generations, the change is especially noticeable: New buyers now have higher incomes than people who already have homes.

Chen Zhao, head of economic research at Redfin, said that even though Gen Z workers are earning more than previous generations did at their age, they are finding themselves priced out. 

“If you look back a couple of generations, people were able to more comfortably afford housing,” Zhao said. “It’s not surprising that the income required to become a homeowner right now is increasing.”

The bottom line: Today’s homebuyer isn’t just equipped with good credit and a down payment; they’re increasingly required to be among America’s highest earners. 

Nationwide, the median income is nearly $81,000. For renters it’s $62,000.

Rising incomes can fuel inflation as prices follow, Zhao said, creating an inflationary cycle. And the effects extend beyond economics: Those priced out of homeownership become part of a growing renter class that’s reshaping neighborhoods. “When people don’t feel ownership, they don’t feel as invested,” Zhao said.

In Oregon, new homebuyers made north of $120,000 in 2023, a 20% increase from 2019. 

In counties there such as Lincoln, home prices have nearly doubled since the pandemic. And elsewhere in the Beaver State, other obstacles present, notably intensifying competition in Josephine County, where the NBC News Home Buyer Competition Index has stayed near its maximum level for almost a year. 

Ryan Holley, 34, bought a home in suburban Portland, Oregon, in 2017, a time when the market was softer. Eight years later, his income has doubled, but his efforts to buy a new place have come up empty.

Holley moved from Oregon to the Las Vegas area in 2021, where he began a new hunt for a home. He immediately found himself priced out.

High mortgage rates posed one challenge. With his Oregon condo, he secured low rates, making his monthly mortgage $858. Today, even though he’s earning more than $130,000 a year, he’s hard-pressed to find a home with payments in his budget. 

In the Las Vegas metro area, new homebuyers made an average of about $115,000, according to the analysis of Census Bureau data.



Source link

Tags: buyingdataearninghomeRequiresshowsU.S
Previous Post

The Trump administration is blundering AI policy

Next Post

Yogurt Shows Great Potential Against Colon Cancer, Study Reveals : ScienceAlert todayheadline

Related Posts

Forensic police investigate on the railway platform

17 hurt in knife attack at German train station; woman arrested

May 24, 2025
3

Canadian finance titan James O’Donnell dead at 88

May 24, 2025
2
Next Post
Bifidobacterium Role

Yogurt Shows Great Potential Against Colon Cancer, Study Reveals : ScienceAlert todayheadline

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0

SpaceX blames Starship Flight 8 mishap on engine hardware failure

May 24, 2025
Forensic police investigate on the railway platform

17 hurt in knife attack at German train station; woman arrested

May 24, 2025
The Straits Times logo

Australia begins clean-up after floods kill 5, damage 10,000 properties

May 24, 2025
EU calls for US trade deal based on 'respect' after Trump's tariff threats

EU calls for US trade deal based on ‘respect’ after Trump’s tariff threats

May 24, 2025

Recent News

SpaceX blames Starship Flight 8 mishap on engine hardware failure

May 24, 2025
2
Forensic police investigate on the railway platform

17 hurt in knife attack at German train station; woman arrested

May 24, 2025
3
The Straits Times logo

Australia begins clean-up after floods kill 5, damage 10,000 properties

May 24, 2025
4
EU calls for US trade deal based on 'respect' after Trump's tariff threats

EU calls for US trade deal based on ‘respect’ after Trump’s tariff threats

May 24, 2025
6

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

SpaceX blames Starship Flight 8 mishap on engine hardware failure

May 24, 2025
Forensic police investigate on the railway platform

17 hurt in knife attack at German train station; woman arrested

May 24, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co