A new analysis finds prospective homebuyers have seen their purchasing power rise in the last year due to higher incomes and lower mortgage rates.Zillow published a report on Monday that found a median-income U.S. household can now comfortably afford a $331,483 home with a 20% down payment. It found that the typical mortgage payment is 8.4% lower than it was a year ago when excluding taxes, insurance and assuming a 20% downpayment. Mortgage rates have fallen from an average of 6.96% in January 2025 to 6.1% last month, while incomes have ticked higher to give a median-income household an extra...
HALO NEWSLETTER
Join HALO today and unlock this story instantly — It's Free
