Posted on 02/18/2014 4:38:42 PM PST by SeekAndFind
The cost of living in America varies wildly.
In Cleveland, people need a base salary of at least $19,435 a year to afford the average home, while San Franciscans must make upward of $115,000 annually.
HSH.com, an online mortgage and consumer loan information website, figured out how much a person would have to earn to afford a home in 25 of the country's largest metropolitan areas.
To do so, HSH looked at the National Association of Realtors’ fourth-quarter data for median home prices and HSH.com’s fourth-quarter average interest rate for 30-year, fixed-rate mortgages to determine how much money homebuyers would need to earn in order to afford only the principal and interest payment on a median-priced home in their market. (They did not account for property taxes, insurance, and other expenses — read their methodology here.)
Average home price: $112,800
Monthly mortgage payment: $453.49
Minimum annual salary: $19,435.17
Source: HSH.com. See their full methodology here
Average home price: $128,700
Monthly mortgage payment: $518.63
Minimum annual salary: $22,226.95
Source: HSH.com. See their full methodology here
(Excerpt) Read more at businessinsider.com ...
Anyone who goes by “the minimum salary required” to buy a home should NOT be buying that home.
Detroit- $19.95...but if you call within the next 10 minutes...
Buy a house in Cleveland?I’d love to hear the reasoning behind that bad idea.
In Detroit it’s buy one,get one free.
here in limosine liberal and....
The average price for Marin Cuunty single-family, re-sale homes in January reached its second highest level ever. The record high is $1,511,190 and last month the average price was $1,483,851
Amen
ATLANTA:
You’d have to earn at least $24,391 to buy an average home.
Average home price: $142,400
Monthly mortgage payment: $569.12
This is a joke, right?
I LOVE your handle!
I see you agree that the 17th was the beginning of the end for the USA!
RE: This is a joke, right?
You might want to check the home prices of Atlanta over the years here:
http://www.deptofnumbers.com/asking-prices/georgia/atlanta/
Our median price is $700,000.00
Insanity !
.
Without a $75,000 down payment or 1% interest, it’s not a joke, it’s Bull Muffins
I suppose that must include all those 2 bedroom condos in those mostly vacant high rise buildings down there around Ivan Allen?
Oh, that’s right.
You don’t know about that, because you don’t know what you are talking about, do you?
Not that that will stop you from commenting...
Notice how they don’t specify the property Tax which in many cases can be as much as the mortgage payment.
Luckily, there are jobs here that pay that much and more:
http://www.indeed.com/jobs?l=75221&rq=1&fromage=last
http://www.indeed.com/jobs?q=&l=76208
+ insurance . . .
Oh, please.
Give me a break...
Membership Services Representative/Matchmacker
Great Expectations - Dallas, TX 75254 (Far North area)
Help Single People Find Love & Make Great Money Doing It!
Great Expectations, the nations largest and most successful
single’s service is currently seeking...
Really? You pick the first ad instead of looking through a couple of pages? That’s the kind of laziness I expect from a leftist, not someone here.
You sent the link, home boy, and that’s what it said.
Laziness?? That was the most interesting job available. That's the one I'd be vying for.
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