For the Average American, Homes Are “Unaffordable” in 99% of the Nation

The majority of Americans, with an average income of $71,214, can’t afford homes in 99% of US counties, states an ATTOM report. Surging mortgage rates above 7% and a lack of homes for sale have driven up the national median home price to $407,100, a 3.9% increase from the previous year. This challenging market demands 35% of an individual’s yearly salary, hitting first-time buyers hardest.