Despite falling home prices and a slight increase in wages, the typical DuPage County family still cannot afford the typical home in the county, according to a report released Wednesday by the DuPage Homeownership Center.

The center’s annual Labor Day housing affordability index shows that families making $71,600 per year — the county’s median level for 2008 — only have 65 percent of the income needed to buy a $329,000 house, the median price for a single-family home.

“The whole purpose of this (report) is to raise awareness of the fact that there’s an affordability issue in DuPage County,” said Sheila McCann, director of outreach and development for the center. “If everything was in balance, the index would be at 100 (percent).”

Under guidelines set by the U.S. Department of Housing and Urban Development, a family should only spend 30 percent of its monthly income on housing. This means a family in DuPage would need to earn $110,920 each year to afford a median-priced home.

DuPage County has the highest median sales price in the state, according to the Illinois Association of Realtors. Lake County is second highest at $299,000.

In spite of the gap, the recent downturn in the housing market has created opportunities for first-time home buyers, McCann said. The median income is up about 1 percent from last year, while the median home price is down 9 percent.

While buyers are in a better position than a year ago, stricter lending guidelines might make it more difficult for buyers to secure a mortgage, according to the center.

Based in Wheaton, the DuPage Homeownership Center is a nonprofit, HUD-certified housing counseling agency.