Jasmine Cui is a reporter for NBC News.
The share of middle-class Americans who are buying wallet-squeezing homes has more than doubled in the previous 10 years. Almost 30% of middle-class homeowners bought homes with monthly payments costing more than 30% of their income in 2022, an NBC News analysis of Census Bureau data found. That’s more than twice the share from 2013, with experts warning it leaves many households with less money for groceries and emergencies and less able to get ahead in the future.
counties tracked by the NBC News Home Buyer Index, average-income house hunters presented with a median-priced home would end up in cost-burdened territory should they buy. That reality has left many middle-class families sitting on the sidelines. Those households accounted for 49.7% of new homebuyers in 2022, down from 60.1% in 2010.
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