04/01/2024
“The places that need the highest household income to afford a typical home are California, Hawaii, Washington, D.C., Massachusetts and Washington state, where home buyers must earn between $156,814 and $197,057. Mississippi, Ohio, Arkansas, Indiana and Kentucky require the lowest levels of income, where home buyers must earn between $63,043 and $65,186.”
The study says that part of the reason buying a home has become expensive is because wages have not kept up with the cost of homes.