Schneider and her roommates aren't alone in finding creative ways to finance their first home amid surging prices. To afford the monthly mortgage payment on a median-priced home, homebuyers need to earn more than $100,000, well above the U.S. median household income of $70,784, according to Census Bureau data. This brought monthly mortgage payments — which included property taxes and insurance — down from $1,329 to $1,217. Despite the income, there were downsides to renting out part of the property, Yuryev found. In 2021, Gressett, moved into a custom-made tiny house that runs her $725 per month.

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