With soaring housing prices and mortgage rates, homebuyers in Dallas-Fort Worth need to be making 40% more income to afford monthly mortgage payments, a...
says homebuyers in Dallas-Fort Worth need to be making 40% more income than last year to afford monthly mortgage payments.
In the Fort Worth area, buyers had to earn $65,117 to afford payments on the median $352,000 home — 40.3%, or $18,665, more than a year ago, Redfin found. The median home price has risen 22% since March 2021 in the Dallas area, driving up monthly payments from $1,394 to $1,944. In the Fort Worth area, the median home price rose 22.6%, with monthly payments up from $1,161 to $1,629.
“Buyers are attracted to Sun Belt locales partly because they’re relatively affordable compared to pricey coastal job centers, but the resulting rise in home prices may make them less popular in the future,” Anderson wrote.
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