Over the past five years, housing costs have far outpaced income growth, raising questions about affordability and financial stress among homeowners. Recent estimates from John Burns Research and Consulting show that the typical mortgage payment has increased by 82% over this period, while median household incomes have grown by only 26%.
This imbalance means that mortgage payments now absorb a significantly larger share of household earnings.
Industry analysis suggests that a typical household would need to spend a record 47% of its income to afford the median-priced home for sale, a level that outstrips affordability metrics not seen in years.