Statistical Brief: Who Can Afford to Buy a House?
Statistical Brief: Who Can Afford to Buy a House?
Report Number: SB/91-14
In Spring 1988, 43 percent of the Nation's 100.6 million families and unrelated individuals could qualify to buy a median-priced home in the region where they lived, using a conventional mortgage with a 5 percent down payment.
This Brief focuses on the demographic characteristics of families and individuals trying to buy homes. Does FHA financing help? What is the highest-priced home they can afford? Can they afford new houses? These are the questions this Brief tries to answer. The data were collected by the Survey of Income and Program Participation (SIPP).
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Page Last Revised - October 8, 2021