Americans need an average income of $109,796 to afford a typical U.S. home, exceeding the median household income of $87,599 by $22,197. Affordability has slightly improved as incomes rose faster than housing costs, with buyers spending 37.6% of income on housing. About 34.2% of listings are affordable, up from 30.5%, but still below pre-2022 levels. Affordability improved in 24 metros, especially Seattle and San Jose, but remains challenging nationwide.