PROVIDENCE, R.I. (WPRI) — A new study by BankRate found that households need to make six figures in order to be able to buy a typical home in the United States.
The study notes that prospective homebuyers in 30 states and the District of Columbia need an annual household income of $116,986 to afford the typical home.
In the video above, 12 News consumer reporter Sarah Guernelli speaks with BankRate Analyst Jeff Ostrowski about what this data means for the nation’s housing market and looks at how much a Rhode Island household needs to make to afford a home. …