In the United States, middle-income home buyers are facing significant challenges in finding suitable properties to purchase, even if they meet the eligibility criteria and can afford a mortgage.

A recent analysis conducted by the National Association of Realtors and Realtor.com reveals that this particular income group is experiencing the most severe shortage of available housing options compared to other income brackets.

The study identifies a shortage of over 300,000 affordable homes in the market for these buyers, CNN has reported.

The analysis defines middle-income home buyers as individuals or households with an annual income of up to $75,000, which represents the median household income in the country.

With this income level, these buyers can comfortably afford homes valued at up to $256,000 without facing excessive housing costs.

However, there has been a substantial decline in the number of homes available in this price range compared to previous years.

Written by staff