Rapidly rising mortgage rates have taken a hammer to home affordability across the U.S., even as some areas like Dallas-Fort Worth continue to see double-digit price gains.
Buyers looking to finance the typical D-FW house with a 20% down payment needed an income of about $87,000 to qualify last quarter, according to a new report from the National Association of Realtors. D-FW’s median household income is $75,975.
The median price of a single-family North Texas home was $390,100 last quarter, up 13% from the same period last year, according to NAR.
