You need a six-figure income to afford a median-priced Twin Cities home

Driving the news: In order to be able to afford a median-priced home in the Twin Cities ($380,000), a family would need a household income of $103,600 which is up 20% year-over-year in August, according to a Redfin analysis.

• That's about $12,000 more than the typical Twin Cities household makes.

State of play: Housing affordability in the metro this summer reached its lowest level in at least 20 years, according to an index by the Minneapolis Area Realtors Association.

By the numbers: While both single- and multi-family homebuilding were hot in recent years, the Twin Cities metro is still short about 80,000 housing units, according to a report by Up For Growth.

• Single-family homebuilding has heated back up after a lull over the winter, but apartment construction has slowed dramatically.

What they're saying: The problem could get worse. "Sluggish construction in today's higher interest rate environment threatens ongoing supply," wrote researchers from the Minneapolis Fed.

• They're advocating for elected officials to remove "overly restrictive land-use policies, time-consuming development processes, and onerous regulations."