A U.S. homebuyer must earn just over $114,000 to afford an average-priced home, according to a report from Redfin.

<div class="block">A U.S. homebuyer must earn just over $114,000 to afford an average-priced home, according to a report from Redfin.</div>

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Redfin: $114K Income Needed to Afford Average Home

A US home buyer must earn just over $114,000 to afford an average priced home. That's according to a report from Redfin, the real estate company says that amount is a record high and is more than double what it was at the start of the pandemic. Redfin also reports the typical household earns about $40,000 less than that figure. The company says real estate prices are surging right now due to near record low inventory as existing homeowners hold on to their current properties with lower mortgage rates.