Des Moines residents need to make more money to buy a home
BPC Staff May 27, 2022 | 3:29 pm
<1 min read time
78 wordsAll Latest News, Housing, Real Estate and Development, Statewide NewsAxios Des Moines: Des Moines locals have to earn 30% more than a year ago to afford the region’s median-value home, per the latest analysis by real estate company Redfin. The income needed to afford a home has soared as limited inventory and strong demand drove up sale prices, and surging mortgage rates have made home loans more expensive. Wages and salaries are not increasing at that pace, further constricting entry into the housing market for many people.
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