What does it take to keep a roof over your head right now? For half of America's homeowners and renters, it takes skipped meals, pulling back from needed medical treatments, working overtime, and selling one's possessions. Others – including millennials — raid their retirement savings. As for that dream vacation, for many it is likely to remain just that – a dream.

These are the findings of a survey commissioned by Redfin and conducted by Qualtrics in February 2024. The nationally representative survey of 3,000 households showed that 1,494 "sometimes, regularly or greatly struggle to afford regular rent or mortgage payments." "Housing has become so financially burdensome in America that some families can no longer afford other essentials," stated Redfin economics research lead Chen Zhao.

According to Redfin, the typical household earns roughly $30,000 less than it needs to afford the median-priced home and rents are once again climbing. In addition, the income needed to afford a starter home is up 8% from a year ago.

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