Student debt limits potential home buyers’ choices
Read the full Columbus Dispatch article here.
Student debt knocks almost $100,000 off the price of home buyers can afford, according to a new Zillow report.
The average monthly student debt for renters who are looking to buy a home in the next year is $388, according to the report. If a renter with student debt spends no more than 30 percent of their income on housing and student debt, the most expensive home they can afford is $269,400 — which accounts for just over half of the U.S. homes currently listed for sale.