Research & Tools
Affordability Gap
Through its research, outreach and efforts to promote policy change, Homes for Working Families is raising awareness about the crippling nationwide home affordability gap that is keeping working families out of homes. The affordability gap is the growing disparity between lagging incomes and high home costs. It is among the primary reasons that many middle-income families find themselves unable to own or rent a home in today's market.
In dozens of metro areas, first-time homebuyers still need to earn at least twice the median income to afford a median-priced home. Today, a record 37.3 million households — one in three — are facing moderate to severe housing cost burdens. According to public opinion surveys, 64 percent of working families living in high-cost housing markets consider the lack of affordable homes a very big problem, eclipsing even concerns over health care costs.
Below are examples of the affordability gap faced by working families across the country.
Boston, Mass. — Median home price: $357,100
Salary needed to afford median-priced home*: $103,706
- Average dental hygienist salary: $74,740
- Average social worker: $51,000
- Average librarian salary: $60,040
Charlotte, N.C. — Median home price: $192,700
Salary needed to afford median-priced home*: $55,622
- Average paralegal salary: $39,530
- Average reporter salary: $44,350
- Average kindergarten teacher salary: $37,860
Chicago, Ill. — Median home price: $249,600
Salary needed to afford median-priced home*: $72,047
- Average family therapist salary: $46,980
- Average HR specialist salary: $52,930
- Average police officer salary: $62,300
Los Angeles, Calif. — Median home price: $459,400
Salary needed to afford median-priced home*: $132,605
- Average firefighter salary: $69,870
- Average flight attendant salary: $67,390
- Average registered nurse salary: $75,740
Miami, Fla. — Median home price: $318,900
Salary needed to afford median-priced home*: $92,050
- Average medical assistant salary: $28,190
- Average chef salary: $46,130
- Average paralegal salary: $46,110
Philadelphia, Pa. — Median home price: $220,900
Salary needed to afford median-priced home*: $63,763
- Average mail carrier salary: $44,530
- Average librarian salary: $52,730
- Average police officer salary: $60,390
Phoenix, Ariz. — Median home price: $220,900
Salary needed to afford median-priced home*: $64,138
- Average carpenter salary: $34,880
- Average editor salary: $47,760
- Average school counselor salary: $42,100
Seattle, Wash. — Median home price: $372,300
Salary needed to afford median-priced home*: $107,464
- Average elementary school teacher salary: $52,600
- Average paralegal salary: $49,920
- Average occupational therapist salary: $64,420
*Based on generally accepted responsible financial planning practices, which dictate home costs should equal no more than 28 percent of gross income plus property taxes and insurance.
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