Only 18 U.S. Metros Require $200K+ Income for Homeownership

New research highlights the stark disparities in housing affordability across the United States, with Southwest Florida's Collier County standing out as one of only 18 U.S. metro areas requiring a household income exceeding $200,000 to afford a median-priced home. Despite a significant drop in housing prices in the region, the median income there falls approximately $114,000 short of what is needed to purchase a home, marking the largest affordability gap in Florida. Comparable affordability challenges exist in nearby Lee and Sarasota counties, where residents also face substantial income shortfalls relative to home costs. Nationwide analyses by GOBankingRates using Zillow Home Value Index data reveal that the most expensive places to buy homes tend to cluster in affluent suburban areas near major metropolitan centers like New York City, Washington, D.C., and along coastal regions, driven by factors such as restrictive zoning, historic estates, and scenic waterfront locations. Western states feature pricey housing markets in remote or resort towns, often elevated by natural beauty and limited supply, while Southern states present expensive enclaves characterized by historic mansions, exclusive communities, and proximity to urban hubs. These regional patterns illustrate the multifaceted causes behind housing affordability issues, including economic disparities, geographic desirability, and local regulatory environments.