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House Affordability Stabilizes But Gap Remains | Salt Lake City News
Home affordability in the U.S. has barely budged, with median homebuyers now needing just under $109,800 in annual income — a drop of just 0.5% from last year. While housing costs rose 2.2%, so did incomes, climbing to $87,600. But here’s the catch: nearly $22,200 still separates what average households earn from what’s needed to keep payments under the 30% rule — and that gap was even wider last year. Affordability improved in half the top metro areas, but only three — St. Louis, Indianapolis, and Pittsburgh — have households earning enough to comfortably buy a typical home there. The big…
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