Affordability has become one of the biggest challenges facing today’s homebuyers, especially first-time buyers who are entering the market without existing home equity. While purchase prices are a major factor, rising interest rates have created an even greater barrier to homeownership. Just a few years ago, mortgage rates were typically 2–4% lower than they are today, which has caused the interest portion of a monthly mortgage payment to increase dramatically. Since 2020, the average home price in Utah County has increased by approximately 45–55%, driving monthly mortgage payments significantly higher. Over that same period, wages in Utah County have grown by only about 10–15%, creating a widening gap between what households earn and what it costs to buy a home. Because incomes have not kept pace with rising home payments, affordability—not demand—has become the primary obstacle to homeownership for many buyers.