Figure 2

Adjusting for size, houses have gotten slightly more affordable

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Sources: Federal Reserve Economic Data; “Income in the United States, 2024,” US Census Bureau; and “New Single-Family Houses Sold by Square Feet of Floor Area,” US Census Bureau.

Note: The average cost of a 2000 square foot home is estimated by finding the nationwide median price per square foot for new homes and multiplying by 2000. (Nationwide median price per square foot is calculated by dividing nationwide median square footage to nationwide median new home price.)