Home prices far outpace paychecks in many areas: Research ...Middle East

As the cost of homes continues to jump, new research has found that those price tags are far outweighing the average household income in many areas. New research from Harvard’s Joint Center for Housing Studies found that the costs of single-family homes in 2023 were about 4.9 times the median household income, putting home ownership out of reach for many families. The researchers released an interactive map that shows where the price-to-income ratio was the highest and lowest last year. Single-family homes across many parts of southern California were at least eight times more expensive than the median household income there. Other parts of California, many areas in Florida and the

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