Mapped: Years of Income Needed to Buy a Home by State

Key Takeaways

• Montana now has America’s highest home price-to-income ratio, surpassing California and New York.
• Several fast-growing migration destinations have become far less affordable over the past five years.
• Iowa remains the country’s most affordable housing market, requiring just 3.7 years of median household income to buy a typical home.

America’s housing affordability map looks very different than it did a decade ago.

Several states that drew new residents with relatively low home prices now rank among the country’s least affordable markets relative to local incomes.

Using median listing prices and median household incomes from Realtor.com, this map shows how many years of income it takes to buy a typical home in every state. The results reveal where home prices have pulled furthest ahead of local earning power.

Read the full article here.