The median income for new homebuyers in the United States has exceeded $100,000, signaling economic distress and exclusivity in the housing market. The increase in income requirements for homeownership, particularly among younger generations, has made it challenging for even those with six-figure salaries to afford a home. Rising incomes can lead to inflation and a growing renter class, impacting neighborhoods and communities. In Oregon, new homebuyers earned over $120,000 in 2023, with steep increases in home prices and intense competition in certain counties. One individual, Ryan Holley, experienced difficulty in buying a home despite a significant increase in income, struggling with high mortgage rates and rising home prices in both Oregon and Las Vegas. The analysis of Census Bureau data shows that new homebuyers in the Las Vegas metro area earn an average of around $115,000, further highlighting the financial challenges of purchasing a home in today’s market.
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