Top 10 Biggest Changes in Buying Power [2023 vs. 2022]

Compared to last year, buyers in 3 big cities can now afford to spend $30K less on a home. In 7 other cities, more fortunate home seekers are able to spend more, increasing their buying power by $32K to $53K.

Affordable home price in visual represents a price that the average buyer on a median income can afford, assuming a standard 20% down payment and a 30-year, fixed-rate mortgage (including insurance and taxes) that doesn’t represent more than 30% of their monthly income.
Median household income as per ACS 2022 1-Year-Estimate and adjusted for 2023.
Source: Point2 AnalysisEmbedDownload imageCreated with Datawrapper