I make a decent living, way above median household income, but my wife and I rent in a dense urban center for the simple reason that even with our income we couldn't afford to own in this area. Even if we weren't paying student loans it would take several years to build up a down payment that would result in cheaper mortgage payments than our rent burden, which would be crucial since homeownership adds property taxes and significant upkeep costs above the mortgage payment. Sure, we could afford a house in the 'burbs, but we don't want to live in the 'burbs. The rent is too damn high, but so are the housing prices.