Can you afford a home in your city?

[GunRanger]

The average American needs to make a little over $51,000 a year to afford the median-priced home — including principal, interest, taxes and insurance — in the U.S., a study released this week by mortgage information website HSH.com. This assumes the buyer has good to excellent credit (and thus would get a mortgage interest rate — depending on location — of around 4%), put down 20% and would be spending no more than 28% of income on principal and interest.

Buyers in the San Francisco area need to make the most money — nearly $148,000 — to afford the median-priced home in their area. Interestingly, residents of the New York area need to make considerably less (roughly $86,700) than those in the San Francisco and San Diego areas ($103,000).

The salary you need to afford a home in these 25 cities

 

[BillCosbyAteMyHomework]

We did. Two incomes is the way to go. Single me would need to move my ass to Phoenix

 

[Standing on business]

If that much of my income has to go towards living then I really don't wanna live there

 

[Ol’Otis]

hell naw

atlanta and houston looking real good to me

 

[Mac Brown]

Fortunately, yes I can and then some.

Thank black jesus!

 

[Black Magisterialness]

Yup.

 

[King Poetic]

Phoenix, Orlando, tampa

I'm getting older to and California is getting expensive while im posting this, I need to moved

 

[The Bilingual Gringo]

Sure can

 

[BaldingSoHard]

Living in Seattle and yes and it sucks.
Can't wait to get back to Phoenix.

 

[gogogubari]

Majority of these 25, yes. Thank God

 

[Taadow]

That feeling when your city doesn't even matter enough to be considered for this type of thing

 

[beenz]

I know why NYC, and SF are so expensive. but why is LA so damn expensive? there's plenty of land, so I would think there'd be plenty of housing stock available.

 

[AtomicUse]

Houses are ideally for married people with families, so if you think about it, just cut the numbers on the chart in half.
Then they don't seem so outlandish.

 

[beejus]

I know why NYC, and SF are so expensive. but why is LA so damn expensive? there's plenty of land, so I would think there'd be plenty of housing stock available.

Everyone wants or thinks they want to move to LA to live the LA lifestyle. It's over saturated with people. Not going to badmouth LA as some of it is incredible, but factoring the cost of living, commute anywhere, terrible people, etc.... it's not as desirable as it is portrayed.

As for where I live. Seattle. I can somewhat afford it, but for with 2 kids in daycare and my wife paying off student loans it's not easy.

Wouldn't mind relocating to somewhere like Dallas or Phoenix for a few years.

 

[West Coast Avenger]

I live in a home in a gated community by a golf course.........