CBRE Home Prices Now 8–11× Median Incomes, Record Affordability Strains
CBRE data show home prices in seven top U.S. markets now stand at eight to 11 times median incomes and the income needed for a single-family home has doubled since 2019. CBRE Investor Management reports that April 2025 housing-price-to-income ratios hit an all-time high, highlighting severe affordability strains.
1. Soaring Price-to-Income Multiples
CBRE data indicate that in seven leading U.S. markets home prices now range from eight to nearly eleven times median household incomes, and the income required to purchase a single-family home has doubled since 2019, underscoring rapidly deteriorating affordability.
2. Record High in April 2025
CBRE Investor Management’s April 2025 analysis shows the housing-price-to-income ratio reached its highest level on record, signaling mounting financial pressure on prospective buyers even as price growth may be slowing.
3. Market Outlook and Supply Constraints
Analysts forecast only a 1.4% rise in U.S. home prices in 2026, while industry data show a national housing shortage of roughly 4.7 million units, reflecting persistent supply constraints that could temper price gains but maintain affordability challenges.