Average Income for Home Ownership Drops From $122,000 to $111,000: Report

Americans have to make at least $111,252 per annum to afford a typical home for sale in the country—a 4 percent decline from a year ago, real estate brokerage Redfin said in a Feb. 11 statement.

“The income needed to buy a home has been declining since November, providing some much-needed relief for U.S. homebuyers. Before that, the income needed to afford a home had been rising on a year-over-year basis nearly every month for five years straight, since the pandemic homebuying boom drove up home-sale prices,” the company said.