It’s no secret it’s become increasingly difficult for most people to buy a home in the U.S. With mortgage rates above 7% and home prices continuing to rise, it’s challenging, in many cases, for the average American to buy a house—even hopeful homebuyers who make the greatest sacrifices.
In fact, teacher pay would need to nearly double in order for them to afford a typical home in the U.S. Considering the level of selflessness teachers dedicate to their students, they continue to be severely underpaid. The median U.S. teacher salary in the U.S. is just over $64,000, yet Americans need to earn an annual income of more than $113,000 to afford a median-priced home, according to a Redfin report released this spring. And there's no sign those figures will fall anytime soon: The median monthly mortgage payment has increased a whopping 90% above pre-pandemic levels, according to Redfin.
