Middle class can’t afford home in half of U.S. metros: Study

Housing is becoming an exclusively upper-class privilege in a growing number of cities.

According to a new study by Creditnews Research, in 2024, middle-class households could afford to buy an average home in just 52 of the country’s 100 largest metros.

Just five years earlier, they could afford a home in 91 of the top 100 metros.

The situation is far worse for lower middle-class households, as they can only afford a home in seven of the largest 100 metros.

In total, 41 out of the 100 metros require a gross annual income of $100,000 or more to qualify for an average home. In 13 metros, an average income of more than $155,000 is needed.

In those cities, even the upper-middle class doesn’t qualify for an average home.

creditnews.com/markets/housing-affordability-has-fallen-off-a-cliff-for-the-middle-class-study-finds/

Americans Continue Paying The High Price Of ‘Bidenomics’

The Cumulative Effect Of Inflation Since President Biden Took Office Has Americans Paying Significantly Higher Prices For Food, Energy, Transportation, Housing, And More
Since President Biden took office, inflation has increased 16.6%. (Bureau of Labor Statistics, Accessed 7/12/2023)

• Grocery (food at home) prices have increased 20%. (Bureau of Labor Statistics, Accessed 7/12/2023)

• Food away from home prices have increased 18%. (Bureau of Labor Statistics, Accessed 7/12/2023)

• Energy prices have increased 38%. (Bureau of Labor Statistics, Accessed 7/12/2023)

• Prices for fuel oil have increased 45%. (Bureau of Labor Statistics, Accessed 7/12/2023)

• Gasoline (all types) prices have increased 52%. (Bureau of Labor Statistics, Accessed 7/12/2023)

• Natural gas prices have increased 20.7%. (Bureau of Labor Statistics, Accessed 7/12/2023)

• Electricity prices have increased 26%. (Bureau of Labor Statistics, Accessed 7/12/2023)

• Rental prices for a primary residence have increased 15.6%. (Bureau of Labor Statistics, Accessed 7/12/2023)

• Prices for used cars and trucks have increased 35%. (Bureau of Labor Statistics, Accessed 7/12/2023)

• Prices for new vehicles have increased 20%. (Bureau of Labor Statistics, Accessed 7/12/2023)

• Furniture prices have increased 18.8%. (Bureau of Labor Statistics, Accessed 7/12/2023)

• Apparel prices have increased 10.8%. (Bureau of Labor Statistics, Accessed 7/12/2023)

• Airline fares have increased 39%. (Bureau of Labor Statistics, Accessed 7/12/2023)

www.republicanleader.senate.gov/newsroom/research/americans-continue-paying-the-high-price-of-bidenomics