Typical US home affordability now requires >$106,000 yearly income, up from about $59,000 in 2020.
Surging home prices and mortgage rates that have more than doubled are pushing monthly payments higher.
First-time buyers face bigger down payments, plus rising rents and inflation, leaving many priced out.
Many delay buying or search in less expensive areas as the gap between incomes and housing costs widens.
Experts say affordability may persist unless home prices or mortgage rates drop, or more homes are built.
