Here’s How Much More House You Can Afford in 30 Major Cities This Year

Median-income American households can now afford homes priced at $331,483, a $30,302 increase from last year. This rise in buying power, aided by dropping mortgage rates, suggests a stabilizing housing market. Major cities saw affordability increases around 8.8% to 10.9%, with prices rising from about $274,000 to $581,000 depending on the city, reflecting improved home purchasing capacity nationwide.