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Below is a brief excerpt transcribed from Wednesday's edition of The Macro Show hosted by Housing analyst Josh Steiner.

Mortgage or Rent? → Housing Affordability  - Housing cartoon 04.01.2015  1

When you take look at the median national mortgage payment, relative to the median rental payment, it's still trending at 30 year lows.

That puts it in the bottom quintile from an affordability standpoint; meaning that homes are still very affordable nationally relative to rented.  

Relative to income you can see on the second slide that they are in the second quintile. Not quite as cheap as they are relative to rent, but definitely cheap still relative to income.

Mortgage or Rent? → Housing Affordability  - 1 15 2020 10 56 55 AM

Mortgage or Rent? → Housing Affordability  - 1 15 2020 10 55 38 AM