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2024: U.S. Housing Costs Consume 41.8% of Income

1/11/2025

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Summary

Story summary

In 2024, housing affordability in the U.S. saw a slight improvement, with median home costs consuming 41.8% of income.
Only 39% of households earn above $116,782, necessary to keep housing costs under 30% of income.
Average monthly housing expenses reach $2,120, accounting for nearly half of household budgets.
Fort Worth, Texas, is the most affordable city for renovations, with a median home price of $299,000.

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Story summary

In 2024, housing affordability in the U.S. saw a slight improvement, with median home costs consuming 41.8% of income.
Only 39% of households earn above $116,782, necessary to keep housing costs under 30% of income.
Average monthly housing expenses reach $2,120, accounting for nearly half of household budgets.
Fort Worth, Texas, is the most affordable city for renovations, with a median home price of $299,000.