US housing affordability is rapidly deteriorating: The annual income needed to afford an average home in the US surged +$4,107 in May, to a record $124,674 per year.

This marks the 3rd consecutive monthly increase, totaling +$9,734. By comparison, US median household income stands at $86,159 per year. This brings the gap between median household income and the income needed to afford an average home to $38,515, the largest gap since July 2025. This is just $2,288 below the $40,803 record set in June 2024. To put this into perspective, median household income was $5,139 higher than the income required to buy a home in 2021. Homeownership is becoming increasingly out of reach for the average A

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