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- US homebuyers need to make $114,000 a year to afford a median-priced home, Redfin says.
- Analysts said median home prices have risen twice as fast as the increase in median household incomes in the last year.
- The last time the typical household earned more than the median-priced home was in February 2021.
Mortgage rates have eased from multi-decade highs hit late last year, but housing affordability hasn't improved much in 2024.
According to Redfin, prospective buyers in the US need to make $114,000 a year to afford the median-priced home. That's 35% more than the typical US household median income of $84,072.