Like home appreciation, the cost of homes in nearly every market continues to rise, challenging interested homebuyers who seek to afford "The American Dream" of owning.
Nowhere is this more apparent than in Tampa, where homebuyers there need to earn $67,353 annually to afford the metro area's typical monthly mortgage payment of $1,684, according to a new report from real estate brokerage Redfin.
That spike represents a stunning 47.8% ($21,791) increase from a year earlier.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
