Rising home prices continue to push homeownership further out of reach for many Americans. In the fourth quarter of 2024, affordability declined in 98% of U.S. counties analyzed by ATTOM, with home prices reaching new heights and driving the cost of homeownership to levels that average workers are finding increasingly difficult to attain.

ATTOM's latest U.S. Home Affordability Report reveals that median home prices have reached a record high of $364,750, up 11.4% year-over-year. At the same time, national wages have not kept pace, making homeownership even less attainable. Major expenses, including mortgage payments, property taxes, and insurance, now consume 34% of the average wage, far exceeding the 28% threshold typically preferred by lenders. This trend reflects significant increases both quarterly and annually, continuing a troubling three-year pattern where homeownership demands an ever-larger portion of wages.