The five housing markets where homeownership is still affordable

For the United States as a whole, a household making the median income of $82,168 would need a $17,670 annual raise to be able to afford monthly payments, assuming a hefty 20% downpayment. That would require $73,000 in household savings.

If the downpayment shrinks to 10%, the annual raise needed jumps to $17,670.

“Affordability remains a steep hill to climb, especially for first-time buyers,” said Zillow economist Kara Ng in a statement. “While the financial bar has gotten higher, we’re also in the middle of the most buyer-friendly spring since before the pandemic for those who can make the finances work. Inventory is up, prices are softening, and sellers are negotiating. To make homeownership more broadly accessible, though, we need lasting solutions, starting with…