Report: Wages not keeping up with home prices in Shawnee Co.
TOPEKA (KSNT) - Buying a house in the U.S. today is less affordable than at any other time in the last 17 years, according to the real estate data company ATTOM.
ATTOM analyzed Bureau of Labor Statistics data from 589 counties with populations over 100,000 and used the Freddie Mac Primary Mortgage Market Survey to calculate monthly house payments. According to ATTOM's findings, home prices increased 4.4% faster than wage growth in Shawnee County.
According to AATOM, the individual income in Shawnee County was $57,434 in Q2 of 2024. AATOM reported that Shawnee County residents spend 27.3% of their annual income on their mortgage.
Rob Barber, CEO of ATTOM, said in the report that this affordability data presents a “clear challenge” for home buyers.
“While home prices are increasing and mortgage rates remain relatively high, these factors are making homes less affordable,” Barber said.
Housing costs are one of the biggest expenses for Americans, and the national median price for a single-family home or condo has now risen to $360,000.
Other counties AATOM analyzed included:
| County | Wage Growth | Home Price Growth |
| Shawnee | 5.3% | 9.7% |
| Douglas | 4.9% | 3.7% |
| Johnson | 2.9% | -0.4% |
| Wyandotte | 6% | 8.5% |
| Sedgwick | 4.8% | -5.4% |
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