If You’re Preparing to Move, Should You Buy or Rent?

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Planning a move is stressful and expensive, and it’s becoming even tougher for first-time home buyers.

A recent report from Zillow found the average American needs to earn more than $106,000 per year to comfortably afford a home. That’s a massive jump from the $59,000 annual income needed in 2020 — an 80% increase in just four years, and it appears Americans’ average yearly income isn’t keeping up.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.