A couple with a combined household income of $80,800 could
afford 82% of all US homes and would be able to save their down payment in just
5 years.
But for singles, its another story.
An analysis from Zillow calculates that less than half of all US homes are affordable for a single buyer based on a median household income of $34,500. And since they don't have the help of a spouse, it could take up to 11 years to save up enough for a standard down payment.
"Nearly two-thirds of Americans agree that buying a home is a central part of living the American Dream, but for unmarried or un-partnered Americans, that dream is increasingly out of reach," said Zillow senior economist Aaron Terrazas. "Single buyers typically have more limited budgets, which means they are likely competing for lower-priced homes that are in high demand. Having two incomes allows buyers to compete in higher priced tiers where competition is not as stiff."
Source: Zilllow.com
But for singles, its another story.
An analysis from Zillow calculates that less than half of all US homes are affordable for a single buyer based on a median household income of $34,500. And since they don't have the help of a spouse, it could take up to 11 years to save up enough for a standard down payment.
"Nearly two-thirds of Americans agree that buying a home is a central part of living the American Dream, but for unmarried or un-partnered Americans, that dream is increasingly out of reach," said Zillow senior economist Aaron Terrazas. "Single buyers typically have more limited budgets, which means they are likely competing for lower-priced homes that are in high demand. Having two incomes allows buyers to compete in higher priced tiers where competition is not as stiff."
Source: Zilllow.com
