shelter prices driving<\/a> headline price increases from July to August, according to the Labor Department.<\/p>\nShelter costs were up 5.2 percent in August from a year earlier, even as headline inflation fell to 2.5 percent.<\/p>\n
So even though the income needed to afford a home has fallen, homeownership remains out of reach for many Americans.<\/p>\n
Redfin defined a home or listing as \u201caffordable\u201d if, after a 15 percent down payment, monthly payments do not exceed 30 percent of monthly earnings. The median household only earns $84,000, 27 percent less than is needed to afford a median priced home in the U.S. at $433,101, according to Redfin.<\/p>\n","protected":false},"excerpt":{"rendered":"
The annual income buyers need to afford a house fell for the first time since 2020, driven by the first annual decline in mortgage rates in three years. Homebuyers need to earn $115,454 per year to afford a typical home, down 1.4 percent from a year ago, according to a new report by the real […]<\/p>\n","protected":false},"author":1,"featured_media":447,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"_links":{"self":[{"href":"http:\/\/filipzajac.me\/index.php\/wp-json\/wp\/v2\/posts\/1224"}],"collection":[{"href":"http:\/\/filipzajac.me\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/filipzajac.me\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/filipzajac.me\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/filipzajac.me\/index.php\/wp-json\/wp\/v2\/comments?post=1224"}],"version-history":[{"count":1,"href":"http:\/\/filipzajac.me\/index.php\/wp-json\/wp\/v2\/posts\/1224\/revisions"}],"predecessor-version":[{"id":1225,"href":"http:\/\/filipzajac.me\/index.php\/wp-json\/wp\/v2\/posts\/1224\/revisions\/1225"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/filipzajac.me\/index.php\/wp-json\/wp\/v2\/media\/447"}],"wp:attachment":[{"href":"http:\/\/filipzajac.me\/index.php\/wp-json\/wp\/v2\/media?parent=1224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/filipzajac.me\/index.php\/wp-json\/wp\/v2\/categories?post=1224"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/filipzajac.me\/index.php\/wp-json\/wp\/v2\/tags?post=1224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}