Infla­tion woes: Home buy­ers need 80% more income to buy than 4 years ago

Inflation woes: Home buyers need 80% more income to buy than 4 years ago

(The Cen­ter Square) – The hous­ing mar­ket is not immune from infla­tion­ary woes as buyer’s pur­chas­ing pow­er has sig­nif­i­cant­ly dimin­ished in four years. Home buy­ers in 2024 need 80% more income to pur­chase a home than they did in 2020, accord­ing to a new report by Zil­low.
“The income need­ed to com­fort­ably afford a home is up 80% since 2020, while medi­an income has risen 23% in that time,” the report states. That equates to $47,000 more than …