T
he American dream of homeownership is slipping further out of reach, even for those with a decent salary. According to a recent survey by Talker Research, the average annual income in the US is around $74,000. However, this amount won't go far in today's housing market.

    In fact, Realtor.com found that a median-priced home can only be afforded by someone earning $74,000 in just two states: Louisiana and West Virginia. This is because the median home sales price has reached $410,800, making it difficult for most Americans to afford.

    Assuming a 20% down payment and a 6.56% mortgage rate, a $74,000 salary can only stretch as far as these two states, where median prices are around $285,000. This is a far cry from the broader US market, where home prices continue to rise.

    Even with a higher salary of $148,000, Americans would still struggle to find affordable homes in 13 states. The reality is that high mortgage rates and inflated home prices aren't the only barriers to homeownership. Rising insurance premiums and property taxes are also taking a toll on buyers' budgets.

    Despite these challenges, many Americans remain optimistic about their ability to afford a home. However, the numbers suggest that the dream of homeownership may be out of reach for many, at least in the short term.