South Carolina and Arizona rounded out the top five states where the annual income needed to afford a typical home has increased the most since the beginning of 2020, at 67.3% and 65.3%, respectively.

A sold sign stands outside a home in Wyndmoor, Pa., on June 22, 2022. Two recent studies suggest that prospective homeowners will have to earn more than $100,000 annually to afford a typical home ...