The median house price in the U.S. is now 5.8 times more than the median annual income of $80,000.
That was, after all, the median price for a house in the area at the time.
Jonathan OchartThe median price of a home in Los Angeles county is just under $960,000, according to Zillow listings data.
It's just not a level playing field," says Ochart about the income now needed to afford a home.
In Grand Rapids, median home prices were on the rise before the pandemic and then soared 54% from 2020 to $285,000 in June 2024, according to Zillow sales data.
Persons:
Kelcie Lesko, Tim Khalil, Lesko, Khalil, they'll, Gen Xers, What's, — there's, they're, Daryl Fairweather, Kelly Diehr, homebuyers, you'd, Diehr, Jonathan Ochart, Ochart, It's, Timothy Ham, Timothy Ham couldn't, Ham, you've, That's, boomer, it's, Lawrence Yun, Millennials, Ramit Sethi, Rich, Brad Klontz, homebuying
Organizations:
CNBC, Homes, LA, National Association of Realtors, NAR
Locations:
New Jersey, Monmouth County, North Brunswick, Lesko, homeownership, U.S, Denver, Brazil, Los Angeles and New York, San Antonio, Los Angeles, Antonio, Texas, LA, Boise , Idaho, Tacoma , Washington, Grand Rapids , Michigan, Grand Rapids, Kalamazoo