Homeownership Costs Just Hit Record High

America’s housing crisis is deepening. The median monthly cost of owning a home with a mortgage has hit a record high of more than $2,100, according to the latest U.S. Census Bureau data.

• That figure is up 3.5 percent from last year and roughly 45 percent from a decade ago.
• The median home currently costs about five times the median household income.
• Nearly 3 in 10 homeowners now spend at least 30 percent of their income on housing.

Financial pressure is delaying major life events for younger adults. Fifty-five percent of Gen Z poll respondents say they have postponed decisions such as marriage, having children, further education and starting a business because of money, according to Deloitte’s 2026 Global Gen Z and Millennial Survey.

• For the first time in the Harvard Youth Poll’s 26-year history, more young adults ages 18 to 29 expect to be worse off financially than their parents (27 percent) compared to those who expect to be better off (25 percent).

The affordability squeeze is also reshaping political views. Housing ranks as a top issue for Gen Z voters, with 91 percent in one Redfin survey calling affordable housing their top election priority. Many cite the broken path to homeownership as a reason they favor stronger government intervention in the market.

• Housing costs are a primary driver of growth in groups like the Democratic Socialists of America.

One cause of the shortage is restrictive zoning and land-use rules that prevent builders from constructing more homes to meet demand.

Under the biblical system described in Leviticus 25:23, land was not allowed to be sold permanently because “the land is mine and you reside in my land as foreigners and strangers” (New International Version). The jubilee laws required land to return to its original owners every 50 years, giving each generation access to land for housing and production based on hard work and wise management.