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Stealers Wheel’s 1973 hit “Stuck in the Middle with You” could well become the theme song for today’s middle-income, first-time home buyers who don’t qualify for affordable housing programs yet cannot afford market-rate homes.
The household income required to purchase a starter home, currently priced under $350,000 in the United States, has surged more than 80 percent to $78,000 from $43,000 in 2019, according to a July 20 report from Realtor.com.
By contrast, the median household income was $83,730 in 2024, representing an increase of under 22 percent from $68,703 in 2019, according to the latest Census Bureau estimates.
This gap in growth between home prices and household incomes has made it increasingly difficult for even middle-income households to own a home, real estate professionals, economists, and recent research say….
The household income required to purchase a starter home, currently priced under $350,000 in the United States, has surged more than 80 percent to $78,000 from $43,000 in 2019, according to a July 20 report from Realtor.com.
By contrast, the median household income was $83,730 in 2024, representing an increase of under 22 percent from $68,703 in 2019, according to the latest Census Bureau estimates.
This gap in growth between home prices and household incomes has made it increasingly difficult for even middle-income households to own a home, real estate professionals, economists, and recent research say….
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