Americans need to earn $109,796 to afford the typical U.S. home for sale, down 0.5 percent from an all-time high of $110,382 a year ago, according to a new report from Redfin.
Redfin considers a home affordable if a buyer taking out a mortgage would spend no more than 30 percent of their income on their monthly housing payment. This is based on a Redfin analysis of median home sale prices, prevailing mortgage rates and property-tax payments, and assumes a 15 percent down payment. This report focuses on June 2026, the most recent period for which data is available.
Homebuying affordability is essentially flat from a year ago because monthly housing costs are increasing, and incomes are increasing at a similar rate:
The median U.S. home sale price
