What extra income is needed to buy a home in each US state

Colorful row of residential houses with porches, bare trees, light snow on lawns, and an American flag. — Salaries rose in nearly every state, but that still was not enough to make the typical home affordable. Grace Cary/Getty Images

Household income rose in almost every state, but the jump has not made homeownership any easier.

Across the country, the median income still falls $31,136 short of what is needed to afford a median-priced home.

Realtor.com data shows that the extra income required to purchase a home ranges from $2,287 to $98,469, depending on the state.

Nearly every state saw household income increase over the past year, but the typical home remains out of reach.

Rhode Island and Virginia posted especially strong income gains, at 9.02% and 7.85%, respectively, yet buyers in both states still need an additional five figures to afford a median-priced home, according to data from the US Census and Realtor.com.

Realtor.com senior economist Hannah Jones said higher mortgage rates have erased some of the benefit from rising paychecks.

“Mortgage rates are more than one percentage point higher than a year ago, which cuts into buyer budgets and offsets the affordability gains from softening home prices and rising incomes,” Jones said. “Nationally, the median household income is not enough to afford the median-priced home in any state.”

The national median household income was $84,780, up about 3.8% from the previous year. Even so, with the national median listing price at $419,250 and a mortgage rate of 7.32% plus a 10% down payment, the recommended income needed to buy a home was still $31,136 above that level, according to Realtor.

Realtor calculated how much more income the median household would need to afford a typical home in each state, and the results ranged from just a few thousand dollars to nearly six figures.

Here is the additional household income needed to afford an average home in each state, listed from the lowest amount to the highest.

Iowa