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Salary you need to afford the average home in your state (2018) top 5 Places Where You Need the Lowest Salaries to Afford the Average Home 1. West Virginia: $38,320 for a house worth $149,500 2. Ohio: $38,400 for a house worth $149,900 3. Michigan: $40,800 for a house worth $160,000 4. Arkansas: $41,040 for a house worth $161,000 5.
Salary You Need to Afford the Average Home in Your State
· How much you need to make in each state to afford a 2-bedroom apartment. of an average worker’s wage and the cost of housing to determine which states have the worst housing problems, keeping.
And if you’re moving to South Carolina and planning on buying property, you need to know about South Carolina property taxes.
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· In Columbus, Ohio, you could afford to buy a home on a salary of less than $30,000. But in New York City, you’ll need to make more than six figures. That’s according to new data from home co-investment company Unison , which calculated the income needed to become a homeowner in various locations across the country as part of its 2019 Home Affordability Report .
Just in case you were wondering why I’m making what is typically a hush-hush activity so public.) First, to sign up, you need to just enter your email id and a. example of an Account Manager, the.
What’s the Salary You Need to Afford a House in Your State? There are many financial factors to consider when you’re choosing a home. The down payment, closing costs, property taxes, insurance – the list goes on.. This Is the Salary You Need to Afford the Average Home in Your State.
Both reports peg the Midwest as especially affordable, though HSH says you’ll need a slightly higher salary to afford a home than Unison concluded below, no matter where you go. Unison’s number-crunching yielded data on the average home prices in each city and the annual salary needed to purchase a home with both 10 and 20 percent down.
At this level, your monthly home payment is consuming 50% of your monthly net take home pay. I would argue that you should use your net monthly pay to calculate what you can safely afford. That is for this couple, they can afford a home with a monthly payment no larger than: $4,870 /.