The Evolution Of The American Housing Crisis

1A · Mar 24, 2026 · 43m

Owning a house appears further and further out of reach for many people in the U.S. The problem is a national one. The median price for an American home is now just over $400,000. On average, houses cost five years of the median salary for someone working in the U.S. In some cities on the West Coast and in parts of Florida, that ratio is now eight years of salary to buy a home.

Rents have also gone up significantly. Since 2020, the nation’s average rent is 27 percent higher. Some cities have seen much bigger gains – Miami’s average rent is up 51 percent. Housing policy advocates point to one…