Starter homes are more affordable to the average American than they were a year ago, but they have become significantly less affordable over the past decade. That’s the conclusion Redfin reached in a data report released Monday.

The national real estate brokerage analyzed household income levels and monthly housing payments to calculate its affordability metric. Buyers in August 2024 needed to earn $77,000 per year to afford a median-priced starter home of $250,000. Starter homes are defined as those priced in the fifth to 35th percentiles of their respective markets, and homes are deemed affordable if the details ⇒

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