{"id":56,"date":"2026-05-27T11:12:04","date_gmt":"2026-05-27T11:12:04","guid":{"rendered":"https:\/\/corporate-movers-usa.com\/?p=56"},"modified":"2026-05-27T11:12:04","modified_gmt":"2026-05-27T11:12:04","slug":"buying-a-home-in-philly-or-delco-you-need-to-make-more-money-than-last-year-to-afford-it","status":"publish","type":"post","link":"https:\/\/corporate-movers-usa.com\/?p=56","title":{"rendered":"Buying a home in Philly or Delco? You need to make more money than last year to afford it."},"content":{"rendered":"<div>\n<div>\n<div><audio><\/audio><\/div>\n<\/div>\n<p>Across the country, homebuyers needed to make slightly less money this April than last year to comfortably afford the typical home, according to a Redfin analysis of the 50 most populous U.S. metropolitan areas.<\/p>\n<p>Read more <a href=\"https:\/\/corporate-movers-usa.com\/?p=54\">Leading Penn under Trump | Morning Newsletter<\/a><\/p>\n<div><\/div>\n<p>But in Philadelphia and Delaware County, buyers needed to make more. This market, as defined by Redfin, had the second-biggest percentage increase in the income needed to afford the typical home.<\/p>\n<div><\/div>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<div><\/div>\n<p>Buyers in this region needed to make $85,541 to comfortably afford the median-priced home for sale in April \u2014 an almost 6% increase from last year in income required. Households made a median of $75,254, about $10,000 less than needed.<\/p>\n<div><\/div>\n<p>The median sale price for a home was about $309,000 in April. In Philadelphia especially, households\u2019 relatively low incomes drive unaffordability more than high home prices, although rising costs continue to make homes less affordable.<\/p>\n<div><\/div>\n<p>Redfin called a home affordable if a buyer with a mortgage who made a 15% down payment would spend no more than 30% of their income on their monthly housing payment. In Philadelphia and Delaware County, the typical homebuyer needed to spend 34% of their income.<\/p>\n<div><\/div>\n<div>\n<h3>Comparisons with other markets<\/h3>\n<\/div>\n<div><\/div>\n<p>Among major metros, only the San Francisco region had a larger percentage increase in the income households needed to afford a typical home \u2014 7%. Homebuyers in this expensive West Coast market needed to make $443,979, the highest income required among the metro areas.<\/p>\n<div><\/div>\n<p>The income required to afford a home in the market that Redfin defines as Montgomery, Bucks, and Chester Counties stayed flat in April at about $142,000.<\/p>\n<div><\/div>\n<div>\n<div><iframe aria-label=\"Table\" data-external=\"1\" frameborder=\"0\" height=\"406\" id=\"datawrapper-chart-977HP\" scrolling=\"no\" src=\"https:\/\/datawrapper.dwcdn.net\/977HP\/1\/\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Metros with the largest increases in required income, by percentage\"><\/iframe><\/div>\n<\/div>\n<div><\/div>\n<p>Compared to April of last year, homebuying got more affordable in 35 of the 50 major metros. In the Chicago area, the income needed to afford a home dropped more than 13%, which was the biggest decrease. Homebuyers still needed an annual income of $101,075.<\/p>\n<p>Read more <a href=\"https:\/\/corporate-movers-usa.com\/?p=52\">A new Italian restaurant will join an Old City dining boomlet<\/a><\/p>\n<div><\/div>\n<p>In nine metro areas, the typical household made more than needed to afford the typical home in April. In the Pittsburgh region, households needed to make $73,411 but made a median of $83,419.<\/p>\n<div><\/div>\n<div>\n<h3>National drop in required income<\/h3>\n<\/div>\n<div><\/div>\n<p>Across the country, homebuyers needed to make $116,780 to afford the median-priced U.S. home for sale in April, down 2% from the same time last year.<\/p>\n<div><\/div>\n<p>More homes were on the market this April than last April, and that boost in housing supply is tamping down on prices, said Redfin economist Grishma Bhattarai.<\/p>\n<div><\/div>\n<p>\u201cAmericans still need a six-figure income to afford a regular home, but it\u2019s encouraging that affordability is gradually improving,\u201d Bhattarai said in a statement.<\/p>\n<div><\/div>\n<p>In April, 33% of U.S. home listings were affordable to a buyer with the median income of $87,599. That\u2019s up from about 29% the same time last year.<\/p>\n<div><\/div>\n<p>But U.S. homebuyers still needed to spend 40% of their monthly income in April for the median-priced home, which cost about $396,000. That\u2019s a higher share than the general affordability rule of spending no more than 30%. But it\u2019s slightly lower than the more than 42% that U.S. homebuyers were spending last April.<\/p>\n<p>Read more <a href=\"https:\/\/corporate-movers-usa.com\/?p=50\">Trea Turner and Aaron Nola have bounceback performances in Phillies\u2019 4-3 win over the Padres<\/a><\/p>\n<div><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Among the 50 largest U.S. metropolitan areas, the market Redfin defines as Philadelphia and Delaware County had the second-biggest percentage increase in the income needed to afford the typical home.<\/p>\n","protected":false},"author":1,"featured_media":55,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,4],"tags":[],"class_list":["post-56","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Buying a home in Philly or Delco? 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