Average Houston home buyer needs 70% more income than in 2020, study finds

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Average Houston home buyer needs 70% more income than in 2020, study finds
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A new report revealed just how much more a Houston home buyer needs to make compared to when the pandemic began in 2020.

Prospective homebuyers in Houston's housing market need to drop big money as mortgage rates lock in at record numbers, officials say.Of all the things that have changed since the coronavirus pandemic began in 2020, one of the most drastic is the residential real estate market.from real estate company Zillow, a household earning $59,000 annually could comfortably afford the monthly mortgage on a typical U.S. home, spending no more than 30% of its income with a 10% down payment.

That was below the U.S. median income of about $66,000, meaning more than half of American households had the financial means to afford homeownership.Potential homeowners and tenants should consider these financial pointers before deciding whether to rent or buy a house in Houston.Oscars 2024: Get ready for the 96th Academy Awards

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