How Much Do Homeowners Spend On Home Costs?

The year is up and as the first bits of data for the fourth quarter of 2021 begin to come in, new data shows that home affordability hit a new low last year in a majority of counties across the country due to surging real estate prices and stagnant wages. “Median single-family home prices in the fourth quarter of 2021 are up by at least 10 percent over the fourth quarter of 2020 in 368, or 64 percent, of the 575 counties included in the report. That is about the same as in the third quarter of 2020, when 74% of the same group of counties were historically less affordable, but far higher than the 39% level in the fourth quarter of last year.”

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