A few years ago, a family earning $59,000 could afford a new mortgage with a 10% down payment without surpassing 30% of their monthly income. Now, with the average household income at $81,000 in 2024, up from $66,000 in 2020, it's still not enough. The average home now requires an income of about $106,500, nearly double the mortgage cost since 2020. This market, tough on first-time buyers, reflects high rates, steep home prices, and low housing stock.