Zillow: Median buyers short $17K–$36K to buy a home

Even as some factors causing current affordability challenges show signs of easing, a new study points to how high a barrier many aspiring buyers still have to get over to achieve homeownership. 

To afford a typical U.S. home currently priced at $367,969, households earning today’s median salary would need an additional $17,670 in annual income to meet monthly payments, even with 20% down. With only a 10% down payment, those same buyers would require a raise of $36,287, according to a new report from Zillow.

The median priced home now demands a near six-figure salary, the report said. In 2023, the median U.S. household income was $82,168, according to U.S. Bureau of Labor Statistics data.

Today’s housing affordability data contrasts sharply with the U.S. market of five years ago, when…