High Housing Costs Outpace Median American Income
Recent data from the CNBC and SurveyMonkey Quarterly Money Survey reveals that 69% of Americans spend more than 25% of their pretax income on housing, with 20% spending over half. This exceeds the Department of Housing and Urban Development's recommended affordability threshold of 30%. With a median household income of $87,460, the ideal monthly housing budget is approximately $2,186, yet current mortgage costs for a median-priced home significantly exceed this limit. While renting offers slightly more breathing room with a median two-bedroom apartment costing $1,896 in August 2026, consumers are increasingly seeking ways to mitigate these expenses. Financial strategies such as utilizing reward programs like the Bilt Blue Card, shopping for lower mortgage rates, and comparing insurance premiums are being highlighted as methods to manage rising living costs.
Topics: affordability housing costs median income mortgage rates