13 major U.S. cities where owning a home requires twice the income needed to rent
Publishing timestamp: 2025-05-04 09:00:01
Summary
The income needed to afford a median-priced home in the U.S. has more than doubled compared to the income needed to afford a median-priced apartment. This is due to soaring home prices and high mortgage rates, while rent growth has mostly stalled. The gap between buying and renting has quadrupled since 2021, making it increasingly challenging for renters to transition to homeownership.
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Keywords: united states, redfin corp,