Home affordability across America could become a tad more attainable as the household income needed for a typical home declined for the seventh straight month in April, according to a May 26 Redfin report.
In April, households needed to earn $116,780 to buy a typical home—down from $119,191 in April 2025. The homebuying income needed peaked at $122,000 in mid-2025.
Redfin bases its affordability margin on buyers spending no more than 30 percent of their household income on monthly housing payments, including mortgage and property taxes, based on a 15 percent down payment.
The report attributes affordability improvement to decreasing housing costs and increasing incomes. In April, Redfin noted, the average 30-year fixed rate was 6.33 percent, as opposed to 6.73 percent one year ago. Meanwhile, it lists the estimated median household income at $87,599—a 4 percent year-over-year increase….