National Housing Affordability Trends
How HAM has evolved across America since 1968
Median HAM (2025)
6.2x
+88% since 1969 (3.3x)
Minimum HAM (2025)
30.0x
+261% since 1969 (8.3x)
Home Price Index (1969 = 100)
1,628.71
vs Income Index: 998.09
The National HAM Story
How many years of take-home pay does a median home cost? The gap has widened dramatically, especially for minimum wage earners.
National HAM (1968–2025)
Home Price / Net Annual Income
The Great Divergence
Indexed to 1969 = 100. Home prices have vastly outpaced both median household income and minimum wage income.
Growth Since 1969 (Indexed, 1969 = 100)
In Today's Dollars
All values adjusted for inflation to 2025 dollars using CPI-U. The affordability gap is real, not just an inflation story.
Inflation-Adjusted Values (2025 Dollars)
What's Driving It
Key housing market indicators that influence prices and affordability.
Mortgage Rates
30-Year Fixed Rate Average
Housing Supply
Months of inventory at current sales rate
Housing Starts
New privately-owned units started (thousands, SAAR)
Active Listings
Housing inventory (since 2016)
Broader Context
Economic backdrop that shapes the housing market.
Homeownership Rate
% of occupied housing units that are owner-occupied
Unemployment Rate
Seasonally adjusted
U.S. Population
Thousands
Housing Starts Per Capita
New units per 100,000 people
Methodology
- Net income estimated using 2025 federal tax brackets and FICA (7.65%). State taxes excluded for national figures.
- Minimum wage income = federal minimum wage × 2,080 hours (40 hrs/wk × 52 wks).
- Home prices are annual averages of quarterly FRED median sale prices (MSPUS).
- Income data from U.S. Census Bureau CPS ASEC (through 2024; 2025 forward-filled with 2024 values).
- Real values adjusted to 2025 dollars using CPI-U.