Back when mortgage rates were 3%, many Americans were still able to get into the housing market. Now with mortgage rates above 7.3% many families in their 20s or 30s are blocked. "If home prices are held constant and interest rates are held constant, and the only thing you adjusted was incomes, then incomes would have to increase by 46% in order to make housing affordable," (Atlanta Fed) - Income needed to afford a typical home: $127,000 - Median household income: $86,500 (Source: Atlanta Fed)