The Missing Middle: Affordable Homes for Middle-Class Buyers in Short Supply.

Less than a quarter of the 1.1 million home listings are within financial reach of the typical American household, according to a joint report from the National Association of Realtors and Realtor.com. The housing market is short about 320,000 listings within the price range of buyers earning the median household income of $75,000 a year. The affordability crunch is even worse for people of color. The nation's most expensive metropolitan areas had the fewest homes priced for middle-income buyers. Buyers on a budget will find the greatest selection of affordable homes in the cheaper parts of the country, such as the Rust Belt and Deep South.