According to a new Redfin analysis, the income needed to purchase a typical home in Philadelphia and Delaware counties went up by nearly six percent, the highest increase recorded among the 50 most populous metro areas in the United States, writes Michaelle Bond for The Philadelphia Inquirer.

To be able to afford the $300,000 cost of a median-priced home sold last month in the region defined by Redfin as these two counties, homebuyers needed to make $82,447 per year.

While that income is significantly below what is required in the majority of the other 50 most populous regions, the six percent increase is higher than the six percent increase other regions experienced from the same period last year.

The income required to afford these homes is also rising in line with the increased home prices. The median home price in the Philadelphia-Delaware county region rose by around nine percent compared to the same time last year, making it the second-highest increase among the 50 metros.

Density and constraints on housing supply partly explain this larger increase in the income required to afford a typical home.

Read more about the Delaware County housing market in The Philadelphia Inquirer.

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