Sky-High Home Prices: $200K+ Income Now Needed to Afford Seattle Home

The annual income needed to afford a median-priced home in Seattle is $214,904. Seattle ranks 7th among the top 100 metro areas in the U.S.

San Francisco tops the list for highest income needed at $404,332 annually to afford a median-priced home.

Rising mortgage rates have reduced home purchasing power, even as wages rise only modestly.

Low inventory is propping up home prices despite slowing demand. Consider condos or less expensive suburbs.

Mortgage rates approaching 8% are making monthly payments unaffordable for many buyers, reducing competition.