Story perspectives

New Homebuyers Earn More, Yet Face Affordability Crisis

2/23/2025

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Summary

Story summary

In 2023, the median income for new U.S. homebuyers reached $110,000, exceeding the national median of $81,000.
Younger buyers under 40 earn more than past generations but struggle with affordability.
Rising incomes fuel an inflationary cycle, increasing the number of renters.
In Oregon, new homebuyers average over $120,000, with home prices nearly doubling since the pandemic.
High mortgage rates pose challenges, particularly in Las Vegas, where buyers average $115,000.

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Story summary

In 2023, the median income for new U.S. homebuyers reached $110,000, exceeding the national median of $81,000.
Younger buyers under 40 earn more than past generations but struggle with affordability.
Rising incomes fuel an inflationary cycle, increasing the number of renters.
In Oregon, new homebuyers average over $120,000, with home prices nearly doubling since the pandemic.
High mortgage rates pose challenges, particularly in Las Vegas, where buyers average $115,000.