These would-be buyers face the most severe housing shortage of any other income bracket, according to a new analysis from the National Association of Realtors and Realtor.com that found the market is short more than 300,000 affordable homes for these buyers.
Given that income, these buyers can purchase homes valued up to $256,000 without being overburdened with housing costs.
Middle-income buyers can afford to buy less than a quarter — only 23% — of listings that are currently on the market.
In a balanced market, buyers earning $75,000 can afford to purchase 66% of the listings in the Youngstown metro area.
However, these buyers would be able to afford to buy more than 50% of the listings in a balanced market.
Persons:
”, Nadia Evangelou, that’s, ” Evangelou, “ It’s, Toledo —, Danielle Hale, “
Organizations:
DC CNN, National Association of Realtors, NAR, El, homeownership
Locations:
Washington, United States, homeownership, Ohio, — Youngstown , Akron, Toledo, Youngstown, El Paso , Texas, Boise , Idaho, Spokane , Washington, In Boise, Boise