It now takes an annual income of at least $200,000 to buy a typical home in 17 major U.S. metro areas.

https://preview.redd.it/ar3cjxnaj0jd1.png?width=638&format=png&auto=webp&s=39ae782fb92e20405462bfdb58ee07b8a1dd35b8

The most expensive area is San Jose, California, where a household needs to earn $587,000 a year to afford the average home.

For the first time in history, the median home sale price in the San Jose metro area has reached $2 million.

Meanwhile, the median sale price of existing homes in the U.S. increased in 199 out of 223 metro areas in the second quarter of 2024.

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