{"id":871580,"date":"2025-08-06T10:31:45","date_gmt":"2025-08-06T14:31:45","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-homebuying-affordability-is-improving-in-these-11-places\/"},"modified":"2025-08-06T10:31:45","modified_gmt":"2025-08-06T14:31:45","slug":"redfin-reports-homebuying-affordability-is-improving-in-these-11-places","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-homebuying-affordability-is-improving-in-these-11-places\/","title":{"rendered":"Redfin Reports Homebuying Affordability Is Improving in These 11 Places"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwleftsingle { border-left: solid black 1pt }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl1 { padding-left: 5px }\n.bwpadr0 { padding-right: 0px }\n.bwrightsingle { border-right: solid black 1pt }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth100 { width: 100% }\n.bwwidth30 { width: 30% }\n.bwwidth35 { width: 35% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Redfin Reports Homebuying Affordability Is Improving in These 11 Places<\/b><\/p>\n<p class=\"bwalignc\"><i>The income needed to afford the typical U.S. home has fallen year over year in almost a dozen major metros, most of which are Sun Belt boomtowns that have seen a drop in home prices amid surging inventory<\/i><\/p>\n<p>SEATTLE&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nHomebuyers need to earn $112,131 per year to afford the $447,035 median priced U.S. home, little changed (+0.5%) from a year ago. But in 11 of the 50 most populous U.S. metropolitan areas, the income needed to afford a home has declined. That\u2019s according to a new <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fincome-needed-to-afford-home-august-2025&amp;esheet=54303660&amp;newsitemid=20250806766539&amp;lan=en-US&amp;anchor=r&amp;index=1&amp;md5=a97b471c69a29d493577a5f91b1b36d9\">r<\/a><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fincome-needed-to-afford-home-august-2025&amp;esheet=54303660&amp;newsitemid=20250806766539&amp;lan=en-US&amp;anchor=epo&amp;index=2&amp;md5=cc9a2ed711898091de440c29f99f56b8\">epo<\/a><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fincome-needed-to-afford-home-august-2025&amp;esheet=54303660&amp;newsitemid=20250806766539&amp;lan=en-US&amp;anchor=r&amp;index=3&amp;md5=b89fa921ab1c4d0db4ead7f7643d99e5\">r<\/a><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fincome-needed-to-afford-home-august-2025&amp;esheet=54303660&amp;newsitemid=20250806766539&amp;lan=en-US&amp;anchor=t&amp;index=4&amp;md5=9f0a54f2bbaa0ca9977018ee81a0b5c6\">t<\/a> from <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2F&amp;esheet=54303660&amp;newsitemid=20250806766539&amp;lan=en-US&amp;anchor=Redfin&amp;index=5&amp;md5=9ac7fc966d885abcdc424fe6974bc8bf\">Redfin<\/a>, the real estate brokerage powered by Rocket.<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>U.S. Metro<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl1 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Income need to afford median-priced home<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl1 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>YoY change in income required to afford median-priced home<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOakland, CA<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$244,073<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n-4.6%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWest Palm Beach, FL<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$128,950<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n-3.7%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nJacksonville, FL<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$94,618<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n-3.5%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSan Diego, CA<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$227,612<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n-3.2%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTampa, FL<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$97,463<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n-2.1%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAtlanta, GA<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$103,719<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n-2%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPhoenix, AZ<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$109,719<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n-1.8%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSt. Louis, MO<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$75,478<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n-1%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOrlando, FL<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$104,644<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSacramento, CA<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$150,939<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDallas, TX<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$120,542<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwvertalignb bwpadb3 bwpadl1 bwalignl bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n-0.2%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nThe income needed to afford a home is falling in the aforementioned 11 metros because home prices are falling. In Oakland, for example, the median home sale price fell 4.6% year over year in June\u2014the largest decline among the top 50 metros. Next came West Palm Beach (-4.1%) and Jacksonville (-3.9%).<\/p>\n<p>\nThe majority of these 11 metros are in Sun Belt states that exploded in popularity and price during the pandemic and are now seeing home prices come back down to earth. Many pandemic boomtowns ramped up construction to accommodate newcomers, leading to an influx of supply that put downward pressure on home prices.<\/p>\n<p>\n\u201cBuyers are battling affordability and they see a lot of listings sitting on the market, so they\u2019re asking for major concessions,\u201d said <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Freal-estate-agents%2Fkatie-shook&amp;esheet=54303660&amp;newsitemid=20250806766539&amp;lan=en-US&amp;anchor=Katie+Shook&amp;index=6&amp;md5=7a835e579ffe101b4474dcf823293cc1\">Katie Shook<\/a>, a <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fpremier&amp;esheet=54303660&amp;newsitemid=20250806766539&amp;lan=en-US&amp;anchor=Redfin+Premier&amp;index=7&amp;md5=781227cea06bf7118691d0e400531f48\">Redfin Premier<\/a> real estate agent in Phoenix. \u201cWe\u2019ve been in a buyer\u2019s market for the past eight months. If your home isn\u2019t in 10\/10 condition and priced at or below market value, it\u2019s going to linger on the market. A lot of sellers are offering $10,000-$15,000 to cover the buyer\u2019s closing costs to seal the deal. Some home features, like a landscaped backyard or pool, aren\u2019t getting the return they used to. Buyers are no longer willing to pay a premium for those things.\u201d<\/p>\n<p>\nFour of the 11 metros where the income needed to afford a home is falling are in Florida, which has also seen home prices drop amid <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fflorida-home-sales-fall-2024%2F&amp;esheet=54303660&amp;newsitemid=20250806766539&amp;lan=en-US&amp;anchor=soaring&amp;index=8&amp;md5=f618bd2ec2b7d4757c82e3bae3a251d1\">soaring<\/a> insurance and HOA costs, along with intensifying natural disasters.<\/p>\n<p>\nWhile homebuying has become more affordable in some parts of the country, the typical household still earns far less than it needs to afford the typical home; the typical U.S. household earns an estimated $86,258\u2014roughly $25,000 less than the income required to afford the typical home for sale.<\/p>\n<p><b>Affordable Midwest Metros See Biggest Jump in Income Needed to Buy a Home<\/b><\/p>\n<p>\nAmerica\u2019s most affordable places are seeing the biggest jumps in the income needed to afford a home\u2014likely in part because their low cost of living has attracted homebuyers, pushing up prices.<\/p>\n<p>\nIn Detroit, the income needed to afford a home is up 9.9% year over year, the biggest increase among the top 50 metros. But it\u2019s still only at $57,432\u2014the lowest in the country. That\u2019s because even though Detroit\u2019s median sale price is up 8.6% year over year\u2014the second biggest increase in the nation\u2014it remains the lowest in the country ($215,000).<\/p>\n<p>\nCleveland saw the second biggest increase in the income needed to afford a home (+8.2% year over year), followed by Newark, NJ (+6.8%), Chicago (+6.7%) and Pittsburgh (+5.7%).<\/p>\n<p><b>The Typical U.S. Homebuyer Spends 39% of Their Income on Housing<\/b><\/p>\n<p>\nWhile a rule of thumb in personal finance is to spend no more than 30% of income on housing, that has become less realistic as housing costs have climbed.<\/p>\n<p>\nA household on the median income would need to spend 39% of their earnings on housing to buy the median priced home. But there\u2019s some good news: That\u2019s down from 40.5% last year, likely because incomes have risen while home prices have barely budged (the median U.S. home sale price is up just 1% year over year).<\/p>\n<p>\nWhile only about one-third (34.6%) of home listings are affordable for the typical U.S. household, that\u2019s up slightly from 33.2% a year ago.<\/p>\n<p>\nTo view the full report, including charts, a methodology and full metro-level data, please visit:<br \/>\n<br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fincome-needed-to-afford-home-august-2025&amp;esheet=54303660&amp;newsitemid=20250806766539&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fincome-needed-to-afford-home-august-2025&amp;index=9&amp;md5=dc567484066fcbaa1d825b944741cf59\">https:\/\/www.redfin.com\/news\/income-needed-to-afford-home-august-2025<\/a><\/p>\n<p><b>About Redfin<\/b><\/p>\n<p>\nRedfin is a technology-driven real estate company with the country&#8217;s most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin\u2019s clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.<\/p>\n<p>\nYou can find more information about Redfin and get the latest housing market data and research at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fredfin.com%2Fnews&amp;esheet=54303660&amp;newsitemid=20250806766539&amp;lan=en-US&amp;anchor=Redfin.com%2Fnews&amp;index=10&amp;md5=3b1117adf168134563680a9a068974cd\">Redfin.com\/news<\/a>. For more information about Rocket Companies, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Frocketcompanies.com&amp;esheet=54303660&amp;newsitemid=20250806766539&amp;lan=en-US&amp;anchor=RocketCompanies.com&amp;index=11&amp;md5=e9dcf8905bcdfee6998ec49c9386638f\">RocketCompanies.com<\/a>.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250806766539r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250806766539\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250806766539\/en\/<\/a><\/span><\/p>\n<p><b>Contact Redfin<br \/>\n<\/b><br \/><b>Redfin Journalist Services:<br \/>\n<\/b><br \/>Kenneth Applewhaite<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:press@redfin.com\">press@redfin.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Washington<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Residential Building &amp; Real Estate Construction &amp; Property Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250806766539\/en\/2512757\/3\/Redfin%2C_powered_by_Rocket.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Redfin Reports Homebuying Affordability Is Improving in These 11 Places The income needed to afford the typical U.S. home has fallen year over year in almost a dozen major metros, most of which are Sun Belt boomtowns that have seen a drop in home prices amid surging inventory SEATTLE&#8211;(BUSINESS WIRE)&#8211; Homebuyers need to earn $112,131 per year to afford the $447,035 median priced U.S. home, little changed (+0.5%) from a year ago. But in 11 of the 50 most populous U.S. metropolitan areas, the income needed to afford a home has declined. That\u2019s according to a new report from Redfin, the real estate brokerage powered by Rocket. U.S. Metro Income need to afford median-priced home YoY change in income required &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-homebuying-affordability-is-improving-in-these-11-places\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Redfin Reports Homebuying Affordability Is Improving in These 11 Places&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-871580","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Redfin Reports Homebuying Affordability Is Improving in These 11 Places - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-homebuying-affordability-is-improving-in-these-11-places\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Redfin Reports Homebuying Affordability Is Improving in These 11 Places - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Redfin Reports Homebuying Affordability Is Improving in These 11 Places The income needed to afford the typical U.S. home has fallen year over year in almost a dozen major metros, most of which are Sun Belt boomtowns that have seen a drop in home prices amid surging inventory SEATTLE&#8211;(BUSINESS WIRE)&#8211; Homebuyers need to earn $112,131 per year to afford the $447,035 median priced U.S. home, little changed (+0.5%) from a year ago. But in 11 of the 50 most populous U.S. metropolitan areas, the income needed to afford a home has declined. That\u2019s according to a new report from Redfin, the real estate brokerage powered by Rocket. 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