First-Time Buyers Must Make $76,000 to Afford the Typical U.S. Starter Home–Up 8% From a Year Ago
The income necessary to buy starter homes is increasing from a year ago due to rising prices and mortgage rates: The typical starter home sold for $240,000 in February, up 3.4% year over year, and the average 30-year fixed mortgage rate was 6.78%, up from 6.26% a year earlier. Homebuyers......