A housing/development site called Realtyhop.com took data from 2022 and data from the 1970 census to compare median house prices with median household income to create a “multiplier”. The higher the figure the harder it is to buy a house.
The full study is here. Data for New Hampshire:
Back in 1970, the household income for New Hampshire families was $9,682 and the median value for a house was $16,400 – a multiplier of 1.69
In 2022, the median list price sat at $337,100 with the household income at $113,605 – a multiplier of 2.97.
The company estimates that the 2023 multiplier will be a whopping 5.4.
Youngsters, tell this to your boomer grandparents* when they ask why you’re still living at home or in a crappy apartment.
*I’m a boomer grandparent.
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