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How many people can't afford a new home?

A total of 134.9 million households — roughly 77% of all U.S. households — cannot afford this median-priced new home based on a mortgage rate of 6.5%. The top of the graph shows that 9.8 million households (adding up the top three rungs) have enough income to buy a $850,000 home, and 2.8 million even have enough for a home priced at $1.6 million.

How many people can't afford a $250,000 home?

Adding up the bottom two rungs shows that there are 66.6 million households who cannot afford a $250,000 home. The nationwide median price of a new single-family home is $495,750, meaning half of all new homes sold in the U.S. cost more than this figure and half cost less.

What if I can't afford my housing market?

Once your smallest debt is gone, take what you were paying on it and add that to your payment on the next-smallest debt until it’s gone too. Repeat the cycle until each debt is paid in full and you’re completely debt-free! Another option if you can’t afford your housing market is to move to a different one.

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