Lowest Paid Workers in 1/3 Markets Can’t Afford Cheapest Homes

May 5, 2015

A study by Zillow Group found that home affordability among the nation’s lowest earners has worsened sharply over the past two years, HousingWire reports.

“The disparity has placed homeownership increasingly out of reach for working Americans whose wages are lowest, even if they shop for the least expensive homes on the market,” writes HousingWire Senior Financial Reporter Trey Garrison.

According to Zillow’s data, high-earning homebuyers shopping for homes in the top price tier will find all but four U.S. housing markets affordable. Meanwhile, low-earning homebuyers would expect to find even the least expensive homes unaffordable in 77 markets.

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