South Florida buyers need to earn over $150,000 to comfortably afford a home in 2024: report

Home shoppers across the US need to be making more than $106,000 to comfortably afford a home in 2024, according to a new Zillow report.

The roughly $106,500 needed to comfortably afford a typical home is well above what a typical U.S. household earns each year, estimated at about $81,000, according to Zillow.

Analysts note that is an 80 percent increase from 2020, when a household earning $59,000 annually could comfortably afford the monthly mortgage.

That payment has now almost doubled since January 2020, jumping 96.4 percent to $2,188, assuming a 10 percent down payment.