Buyers need a $17,000 raise to afford a home
Zillow (NYSE:ZG) released a comprehensive analysis revealing a significant affordability gap in the U.S. housing market. The study shows that median-income households now need a $17,670 annual raise to afford mortgage payments on a typical U.S. home valued at $367,969, even with a substantial $73,594 (20%) down payment.
The analysis highlights severe affordability challenges in California markets, where median earners need six-figure salary increases to afford typical homes, with San Jose requiring the highest raise at over $250,000. Currently, only 11 major markets remain affordable for median-income households, dramatically down from 39 markets five years ago.
The report also reveals that buyers are increasingly relying on multiple sources for down payments, with 72% using savings, 46% using proceeds from previous home sales, and 38% receiving gifts or loans from family or friends. The affordability crisis has led to increased demand for single-family rentals, which have seen a 41% price increase over the past five years, compared to 30% for multifamily units.
Zillow (NYSE:ZG) ha pubblicato un'analisi approfondita che evidenzia un significativo divario di accessibilità nel mercato immobiliare statunitense. Lo studio mostra che le famiglie con reddito medio necessitano ora di un aumento annuale di 17.670 $ per poter permettersi i pagamenti del mutuo su una casa tipica negli Stati Uniti, valutata 367.969 $, anche con un sostanzioso acconto del 20% pari a 73.594 $.
L'analisi mette in luce gravi difficoltà di accesso all'abitazione nei mercati californiani, dove i redditi medi devono aumentare di cifre a sei zeri per permettersi una casa tipica, con San Jose che richiede l'incremento più elevato, superiore a 250.000 $. Attualmente, solo 11 grandi mercati risultano ancora accessibili alle famiglie con reddito medio, un calo drastico rispetto ai 39 mercati di cinque anni fa.
Il rapporto rivela inoltre che gli acquirenti fanno sempre più affidamento su molteplici fonti per il pagamento dell'acconto, con il 72% che utilizza risparmi, il 46% che usa i proventi della vendita di una casa precedente e il 38% che riceve donazioni o prestiti da familiari o amici. La crisi di accessibilità ha causato un aumento della domanda di affitti unifamiliari, che hanno registrato un aumento dei prezzi del 41% negli ultimi cinque anni, rispetto al 30% delle unità multifamiliari.
Zillow (NYSE:ZG) publicó un análisis exhaustivo que revela una brecha significativa en la asequibilidad del mercado inmobiliario de EE. UU. El estudio muestra que los hogares con ingresos medios ahora necesitan un aumento anual de 17,670 $ para poder pagar la hipoteca de una vivienda típica en EE. UU. valorada en 367,969 $, incluso con un pago inicial sustancial del 20%, equivalente a 73,594 $.
El análisis destaca graves desafíos de asequibilidad en los mercados de California, donde los ingresos medios requieren aumentos salariales de seis cifras para poder costear viviendas típicas, siendo San José el que necesita el mayor incremento, superior a 250,000 $. Actualmente, solo 11 mercados principales siguen siendo asequibles para hogares de ingresos medios, una caída notable desde los 39 mercados de hace cinco años.
El informe también revela que los compradores dependen cada vez más de varias fuentes para el pago inicial, con un 72% utilizando ahorros, un 46% usando ingresos de ventas previas de viviendas y un 38% recibiendo regalos o préstamos de familiares o amigos. La crisis de asequibilidad ha incrementado la demanda de alquileres unifamiliares, que han visto un aumento del 41% en los precios en los últimos cinco años, en comparación con el 30% para unidades multifamiliares.
Zillow (NYSE:ZG)가 미국 주택 시장에서 심각한 주택 구입 부담 격차를 드러내는 종합 분석을 발표했습니다. 연구에 따르면 중간 소득 가구는 미국 내 일반 주택 가격인 367,969달러에 대해 20%인 73,594달러의 상당한 계약금에도 불구하고 주택담보대출 비용을 감당하기 위해 연간 17,670달러의 급여 인상이 필요합니다.
분석은 캘리포니아 시장에서 심각한 주택 구입 부담 문제를 강조하며, 중간 소득자는 일반 주택을 구매하기 위해 6자리 수 급여 인상이 필요하며, 산호세는 250,000달러가 넘는 가장 높은 인상액을 요구합니다. 현재 중간 소득 가구가 감당할 수 있는 주요 시장은 11곳에 불과하며, 이는 5년 전 39곳에서 크게 줄어든 수치입니다.
보고서는 또한 구매자들이 계약금 마련을 위해 여러 출처에 의존하고 있음을 밝혔으며, 72%가 저축을, 46%가 이전 주택 판매 수익을, 38%가 가족이나 친구로부터 선물 또는 대출을 받고 있습니다. 주택 구입 부담 위기로 인해 단독 주택 임대 수요가 증가했으며, 지난 5년간 단독 주택 임대료는 41% 상승했으며, 다가구 주택은 30% 상승에 그쳤습니다.
Zillow (NYSE:ZG) a publié une analyse complète révélant un écart significatif d'accessibilité dans le marché immobilier américain. L'étude montre que les ménages à revenu médian ont désormais besoin d'une augmentation annuelle de 17 670 $ pour pouvoir payer les mensualités d'un prêt hypothécaire sur une maison américaine typique évaluée à 367 969 $, même avec un acompte substantiel de 73 594 $ (20%).
L'analyse met en lumière de graves difficultés d'accessibilité dans les marchés californiens, où les revenus médians nécessitent des augmentations salariales à six chiffres pour pouvoir se permettre des maisons typiques, San Jose nécessitant la plus forte augmentation, dépassant 250 000 $. Actuellement, seuls 11 grands marchés restent abordables pour les ménages à revenu médian, en forte baisse par rapport à 39 marchés il y a cinq ans.
Le rapport révèle également que les acheteurs comptent de plus en plus sur plusieurs sources pour les acomptes, avec 72 % utilisant leurs économies, 46 % utilisant les revenus de ventes précédentes et 38 % recevant des dons ou prêts de la famille ou des amis. La crise d'accessibilité a entraîné une demande accrue pour les locations de maisons individuelles, dont les prix ont augmenté de 41 % au cours des cinq dernières années, contre 30 % pour les logements multifamiliaux.
Zillow (NYSE:ZG) veröffentlichte eine umfassende Analyse, die eine erhebliche Erschwinglichkeitslücke auf dem US-Immobilienmarkt aufzeigt. Die Studie zeigt, dass Haushalte mit mittlerem Einkommen nun eine jährliche Gehaltserhöhung von 17.670 $ benötigen, um Hypothekenzahlungen für ein typisches US-Haus im Wert von 367.969 $ leisten zu können, selbst bei einer erheblichen Anzahlung von 73.594 $ (20%).
Die Analyse hebt erhebliche Erschwernisse in den kalifornischen Märkten hervor, wo Medianverdiener Gehaltserhöhungen im sechsstelligen Bereich benötigen, um sich typische Häuser leisten zu können, wobei San Jose die höchste Erhöhung von über 250.000 $ verlangt. Derzeit sind nur noch 11 große Märkte für Haushalte mit mittlerem Einkommen erschwinglich, ein dramatischer Rückgang von 39 Märkten vor fünf Jahren.
Der Bericht zeigt außerdem, dass Käufer zunehmend auf mehrere Quellen für Anzahlungen angewiesen sind, wobei 72 % Ersparnisse nutzen, 46 % Erlöse aus vorherigen Hausverkäufen verwenden und 38 % Geschenke oder Darlehen von Familie oder Freunden erhalten. Die Erschwinglichkeitskrise hat die Nachfrage nach Einfamilienmieten erhöht, deren Preise in den letzten fünf Jahren um 41 % gestiegen sind, verglichen mit 30 % bei Mehrfamilieneinheiten.
- 11 major markets still remain affordable for median-income households
- More homes are available for sale with a record number of sellers cutting list prices
- Cleveland, Pittsburgh, St. Louis, and Cincinnati offer affordability with income exceeding typical home payment requirements
- Median-income families need a $17,670 raise to afford a typical U.S. home
- Affordable markets decreased from 39 to 11 in five years
- Four California markets require six-figure salary increases for home affordability
- Single-family rental prices have increased 41% in five years
- San Jose requires a $250,000+ raise for median earners to afford typical homes
Insights
Housing affordability crisis has worsened significantly, with median earners needing $17,670 more annually to afford typical homes despite buyer-friendly conditions.
The latest Zillow analysis reveals a dramatic deterioration in housing affordability across the U.S. Five years ago, median-income households could afford typical homes in 39 major markets. Today, that number has plummeted to just 11 markets, primarily in the Midwest and Northeast.
Even with a substantial
California markets present the most extreme challenges, with San Jose requiring an astronomical
This affordability crisis is creating significant market distortions. We're seeing a sharp demographic shift in the rental market, with renters aging and single-family rental demand surging – evidenced by
While current conditions are more buyer-friendly than recent years (increased inventory, price softening, more seller negotiation), the fundamental affordability equation remains severely imbalanced. This represents a structural challenge for the housing market, with significant implications for household formation, geographic mobility, and generational wealth transfer.
Cleveland, Pittsburgh, St. Louis, and Cincinnati stand as rare exceptions where median incomes exceed typical mortgage requirements. This geographic disparity highlights how severely constrained housing access has become in coastal and high-growth markets, fundamentally reshaping national housing dynamics.
Even with a
- A median-income family would need a
$17,670 U.S. home. - In four
California markets, median earners would require a six-figure raise to afford the typical home. - Currently, median earners can afford the typical home in just 11 major markets, down from 39 markets five years ago.
While the housing market is friendlier to buyers this spring, with more homes for sale and a record number of sellers cutting their list prices, incredible home value growth and higher mortgage rates in recent years have reset the financial bar for homeownership. Affordability pressures have helped chill buyer demand, while amping up interest in single-family rentals.
"Affordability remains a steep hill to climb, especially for first-time buyers," said Kara Ng, senior economist at Zillow. "While the financial bar has gotten higher, we're also in the middle of the most buyer-friendly spring since before the pandemic for those who can make the finances work. Inventory is up, prices are softening, and sellers are negotiating. To make homeownership more broadly accessible, though, we need lasting solutions, starting with policies that allow more homes to be built in the right places."
To comfortably afford a typical
Median earners would need six-figure raises in four major metro areas, all of which are in
There are 11 major markets where the median income is enough to afford the typical mortgage payment, down from 39 such markets five years ago. These are generally midsize markets in the Midwest and Northeast. Median earners in
As affordability headwinds have stiffened for would-be first-time buyers, renters are aging and demand for single-family rentals has been rising. These homes now rent for
To make the finances work, buyers are looking under every rock to come up with a down payment. More than half of buyers tap at least two sources. The most common sources of down payment funding are savings (
Metro Area* | Raise Needed to Afford | Typical Home | Typical Mortgage | Median |
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*Table ordered by market size
About Zillow Group
Zillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home a reality for more and more people. As the most visited real estate app and website in
Zillow Group's affiliates, subsidiaries and brands include Zillow®, Zillow Premier Agent®, Zillow Home Loans℠, Zillow Rentals®, Trulia®, Out East®, StreetEasy®, HotPads®, ShowingTime+℠, Spruce®, and Follow Up Boss®.
All marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). © 2025 MFTB Holdco, Inc., a Zillow affiliate.
1 To be considered affordable, a monthly mortgage payment must account for no more than
2 Median household income is taken from the American Community Survey (ACS) through 2023. Present-day estimates combine changes in the Employment Cost Index provided by the Bureau of Labor Statistics to forecast current median household income.
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SOURCE Zillow
FAQ
How much additional income does a median-earning family need to afford a typical U.S. home in 2025?
Which U.S. housing markets are still affordable for median-income households in 2025?
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What are the main sources of down payments for homebuyers according to Zillow's 2025 analysis?
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