The Housing Affordability Crisis Is Accelerating Fastest in Rural America
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Wire
Rural homebuyers need to earn $75,000 to afford the typical home, up from $36,000 before the pandemic.The median home sale price in rural areas is up 61% from before the pandemic, compared with a 49% increase in suburban areas and a 46% gain in urban areas.The median household income in rural areas has climbed 33%, less than the 37% increase in suburban areas and the 39% uptick in urban areas. SEATTLE--(BUSINESS WIRE)--Homebuyers need to earn an annual income of $74,508 to afford the median-priced home in rural U.S. counties. That’s up 105.8% from before the pandemic, when rural buyers needed to earn $36,206, according to a new report from Redfin, the real estate brokerage powered by Rocket.By comparison, the income needed to afford a home in suburban counties has risen 90.9% (to $102,120 from $53,482), and the income needed to afford a home in urban counties has climbed 87.5% (to $118,300 from $63,103). Rural America has been hit by a one-two punch of rising home prices and laggin
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News
- Rocket Companies, Inc. (RKT): A Bull Case Theory [Yahoo! Finance]Yahoo! Finance
- Rocket Companies' Dan Gilbert on housing affordability: The only thing that solves it is supply [CNBC]CNBC
- Redfin Reports Investor Activity Is Muted, With Home Purchases Up 1% and Market Share Holding SteadyBusiness Wire
- Inside Detroit's newest building: Dan Gilbert on rebuilding Hudson's Detroit [CNBC]CNBC
- A new era in Detroit: Rocket Companies' Dan Gilbert on his road to recovery, reinvesting in the city [CNBC]CNBC
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- 11/28/25 - Form 4
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