U.S. Home Affordability Better Than Headlines Claim, Study Shows

Recent surveys indicate that two‑thirds of Americans view the current housing market as unfavorable, and a record 25.2 million adults under 35 are living with their parents. However, when affordability is measured by the actual monthly mortgage payment relative to income, buying a home today may be easier than it was for the Boomer generation.

Since 2019 the median listing price has risen about 34 % to roughly $430,000. The typical monthly payment on a median home grew from around $1,700 in early 2020 to about $3,100 by late 2025 as interest rates tripled from their 2021 lows. By contrast, a Boomer buyer in 1980 financed a $64,600 home at a 13.74 % rate, spending roughly 47 % of household income on housing. Today's median buyer, financing around $417,000 at about 6.5 % interest, spends about 32 % of income on the mortgage and roughly 43 % when taxes are included.

The analysis concludes that housing affordability is more localized and fixable than media narratives suggest, and that the notion of a generation permanently locked out of home ownership is overstated.