Housing becoming harder to afford in US

In nearly half of the United States, someone looking to buy a median-priced home now needs a six-figure income, a new study has found.

To afford a median-priced home of $402,343, people in the US need an annual income of $110,871, according to an analysis published on Monday by Bankrate, a consumer financial services company in Florida.

By contrast, in January 2020, potential homebuyers needed an income of $76,191 to afford a typical home.