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The average entry-level home in the US has soared to a record $243K and experts say first-time buyers are being smoked by a 'one-two punch' (finance.yahoo.com)

submitted 1 year ago by [email protected] to c/[email protected]

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This means that a first-time homebuyer needs to earn an annual salary of around $64,500 — which is over $10,000 higher than the average wage of Americans aged 25-34 — and up 13% from $57,222 a year ago.

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[–] [email protected] 7 points 1 year ago

That’s the average nationwide. What really happens is in small rural town houses go for closer to 150-200k but nobody can afford them anyway because wages are awful in those towns. Then in major cities your wages are higher but congratulations, entry level housing is 300-500k or more.