Crews Bank & Trust Blog

Chart of the Day: Payments on Houses

Today’s Chart of the Day is from the 2024 State of the Nation's Housing Report from the Joint Center for Housing Studies at Harvard University. It shows the average inflation-adjusted monthly payment, including taxes and insurance, on a median-priced home in the US from 1990 to present. Currently, it is at a record high of $3,100 a month.


According to article, the industry standards for affordability calculates the annual income needed for this is $120,000, which only one in seven renters can meet.