A recent study reveals significant disparities in homeownership affordability across the United States, emphasizing that it can take considerably longer to save for a house in certain states. According to data from Leave The Key Homebuyers, Hawaii ranks as the least affordable state, requiring nearly 29 years of saving for the average earner to purchase a median-priced home. California follows, necessitating over a decade of savings due to high home prices and limited disposable income. This detailed analysis accentuates the growing struggles many Americans face in achieving homeownership amid rising living costs.
Hawaii tops the list as the least affordable state for aspiring homeowners, needing 28 years and 10 months to save for a home.
California, with a median home price of $725,800, requires over a decade - 10 years and 6 months - for average earners to save for a house.
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