Income Gap Puts Starter Homes Out Of Reach For Most First-Time Buyers
Just 37.6% of nonhomeowner households can afford a typical starter home, according to a recent study by LendingTree
Just 37.6% of nonhomeowner households can afford a typical starter home, according to a recent study by LendingTree
Three-quarters of starter-home listings are affordable for a household making the median income.
Texas metros see largest improvement in affordability as 30-year-fixed mortgage rates hover near 6%
Redfin says the increases in income needed to afford a median-priced home are especially high in Florida.