Affordability Pyramid Shows 64.8 Million Households Cannot Buy a $250,000 Home

The National Association of Home Builders demonstrates here in a pyramid chart that a minimum income of $45,672.63 is necessary to buy a $150,000 home at the mortgage rate of 6.25 percent, and 39 million households fall at that threshold or below. That’s the bottom of the pyramid. An additional 25.8 million households can only go up to $250,000, and at the very top, only 3 million households can purchase a home for $1.55 million or more.

Source: https://eyeonhousing.org/2023/04/affordability-pyramid-shows-64-8-million-households-cannot-buy-a-250000-home/