It’s one of the cornerstones of the American Dream—owning a house.
As more states invest in new builds and
listing prices start to come down, inventory has increased, creating opportunities for many aspiring homeowners.
While still true that the struggle is real for some to become homeowners, other Americans will find that their salaries are more than enough to buy their dream home. It really all depends on where you live.
How much house can a middle-class American afford?
The following was calculated taking into consideration the most recent, available information on median household income per state, according to
SmartAsset analysis of 2023 income data from the U.S. Census Bureau.
This information was then factored into the assumption that a prospective homebuyer from that state would secure a 6.67% 30-year fixed mortgage and have 10% available for a down payment.
Kansas:
Median household income: $70,333
Median house price: $280,298
How much house a buyer could afford: $351,489.25
Missouri:
Median household income: $68,545
Median house price: $289,000
How much house a buyer could afford: $342,553.72
Whether you’re planing a move or just refreshing your space, I have you covered. Stay informed with the latest market updates & expert advice.
Sandy Herrick
ReeceNichols
913-205-4333
sherrick@reecenichols.com
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