National Association of Realtors Reports Home Affordability Decline

Sharon Reese, a 43-year-old former Las Vegas dance trainer, has returned to her Ohio hometown after 18 years due to the prohibitive housing market in Nevada, where homes now cost between $600,000 and $800,000. Her family is temporarily living with her parents in Youngstown, one of the last metro areas in the U.S. where nearly any income can afford a single-family home, according to a National Association of Realtors analysis. The report reveals that since the pandemic, no states are considered affordable overall, with states like Montana and Idaho now being the most unaffordable. The analysis uses a scoring system to evaluate housing affordability, with most states scoring below the threshold for general affordability. This reflects a significant shift from the previous years when many states were deemed affordable, including swing states critical in presidential elections.