How Much Housing Costs Have Outpaced Income in 17 Major Cities Over the Past Decade

The cost to own and maintain a home has increased exponentially over the past decade, and the median income has not been able to keep up.

Across the U.S., the average cost of housing has increased by 48% and the average median single-family home price has increased by 99%, while the annual median income has increased by just 37%, according to a recent Zoocasa study. The numbers are even more drastic in several major U.S. cities: In 12 out of 17 major metropolitan areas, housing expenditures have grown faster than incomes.

Here’s a look at how much housing costs have outpaced income increases in 17 major cities across the U.S.

• Median single-family home price (2023): $366,900
  • 10-year change: 157.7%
• Average annual expenditures for housing (2023): $27,298
  • 10-year change: 60.8%
• Annual median income (2023): $48,370
  • 10-year change: 35.5%
• Disparity in home price vs. income increases: 122.2%

• Median single-family home price (2023): $383,900
  • 10-year change: 58.8%
• Average annual expenditures for housing (2023): $28,273
  • 10-year change: 40.2%
• Annual median income (2023): $54,140
  • 10-year change: 34.1%
• Disparity in home price vs. income increases: 24.7%

• Median single-family home price (2023): $704,700
  • 10-year % change: 89.8%
• Average annual expenditures for housing (2023): $31,679
  • 10-year % change: 43.7%
• Annual median income (2023): $63,060
  • 10-year % change: 37.4%
• Disparity in home price vs. income increases: 52.4%

• Median single-family home price (2023): $343,300
  • 10-year change: 83.5%
• Average annual expenditures for housing (2023): $27,342
  • 10-year change: 33.2%
• Annual median income (2023): $49,790
  • 10-year change: 34.5%
• Disparity in home price vs. income increases: 49.0%

• Median single-family home price (2023): $376,200
  • 10-year change: 116.3%
• Average annual expenditures for housing (2023): $27,214
  • 10-year change: 33.4%
• Annual median income (2023): $48,440
  • 10-year change: 37.8%
• Disparity in home price vs. income increases: 78.5%

• Median single-family home price (2023): $241,500
  • 10-year change: 85.8%
• Average annual expenditures for housing (2023): $23,098
  • 10-year change: 43.2%
• Annual median income (2023): $48,950
  • 10-year change: 32.3%
• Disparity in home price vs. income increases: 53.5%

• Median single-family home price (2023): $336,600
  • 10-year change: 84.6%
• Average annual expenditures for housing (2023): $26,352
  • 10-year change: 18.9%
• Annual median income (2023): $46,960
  • 10-year change: 30.3%
• Disparity in home price vs. income increases: 54.3%

• Median single-family home price (2023): $884,400
  • 10-year change: 108.9%
• Average annual expenditures for housing (2023): $31,478
  • 10-year change: 46.4%
• Annual median income (2023): $50,490
  • 10-year change: 32.6%
• Disparity in home price vs. income increases: 76.3%

• Median single-family home price (2023): $600,000
  • 10-year change: 130.7%
• Average annual expenditures for housing (2023): $26,661
  • 10-year change: 64.5%
• Annual median income (2023): $46,510
  • 10-year change: 48.8%
• Disparity in home price vs. income increases: 81.9%

• Median single-family home price (2023): $374,000
  • 10-year change: 89.8%
• Average annual expenditures for housing (2023): $28,829
  • 10-year change: 35.3%
• Annual median income (2023): $54,850
  • 10-year change: 36.0%
• Disparity in home price vs. income increases: 53.8%

• Median single-family home price (2023): $659,300
  • 10-year change: 70.7%
• Average annual expenditures for housing (2023): $33,626
  • 10-year change: 39.0%
• Annual median income (2023): $59,390
  • 10-year change: 37.3%
• Disparity in home price vs. income increases: 33.4%

• Median single-family home price (2023): $353,500
  • 10-year change: 65.0%
• Average annual expenditures for housing (2023): $28,751
  • 10-year change: 45.6%
• Annual median income (2023): $50,160
  • 10-year change: 28.0%
• Disparity in home price vs. income increases: 37.0%

• Median single-family home price (2023): $466,500
  • 10-year change: 142.1%
• Average annual expenditures for housing (2023): $29,428
  • 10-year change: 67.7%
• Annual median income (2023): $48,600
  • 10-year change: 38.1%
• Disparity in home price vs. income increases: 104%

• Median single-family home price (2023): $931,600
  • 10-year change: 95.4%
• Average annual expenditures for housing (2023): $34,554
  • 10-year change: 45.3%
• Annual median income (2023): $53,090
  • 10-year change: 36.8%
• Disparity in home price vs. income increases: 58.6%

• Median single-family home price (2023): $1,251,000
  • 10-year change: 85.4%
• Average annual expenditures for housing (2023): $42,109
  • 10-year change: 64.1%
• Annual median income (2023): $72,050
  • 10-year change: 47.9%
• Disparity in home price vs. income increases: 37.5%

• Median single-family home price (2023): $732,200
  • 10-year change: 112.6%
• Average annual expenditures for housing (2023): $35,070
  • 10-year change: 54.3%
• Annual median income (2023): $65,260
  • 10-year change: 39.9%
• Disparity in home price vs. income increases: 72.7%

• Median single-family home price (2023): $591,700
  • 10-year change: 60.8%
• Average annual expenditures for housing (2023): $34,498
  • 10-year change: 19.4%
• Annual median income (2023): $65,110
  • 10-year change: 27.7%
• Disparity in home price vs. income increases: 33.1%