possess a home is that glittering American nonsuch , spoon - run to the populace from the time we ’re scarcely sure-enough enough to afford a bank account . But just how easy is it to attain this end , and become a red-hot - full-blood American with a mortgage , a hotdog and a seldom - used lawnmower ?
Well , this all depends on which metropolitan country you inhabit in , and accord to a map foregather byhowmuch.net , the cost varies by a somewhat uttermost degree from location to location . Using data compiled by theAmerican Association of Realtors , the following map elucidates the median income it takes to own a home in the American West , East , Midwest and South , and which cities are the most / least amenable to homeownership .
According to the data , the West seashore is the most expensive geographical hub , with a average family Leontyne Price of $ 319,000 . compare with the Northeast ( $ 262,500 ) , the South ( $ 196,400 ) , and then the Midwest ( $ 175,500 ) , it ’s a fairly up economic trajectory as one travel toward the Pacific .
Howmuch.net
When it comes to the most expensive cities for homeownership , San Francisco and its prospering technical school scene means you need to earn at least $ 147,996 to own a house in the metropolis , the median price of which is $ 781,600 . On the diametric end of the spectrum is Detroit : You ’d only need $ 36 , 915 a year to own a $ 148,667 home in the motor metropolis .
amazingly , since the foreclosure crisis in the mid - aughts , the NAR found that the “ sales price of exist individual - family homes in the U.S. has increased steadily since 2013 ( $ 197,400 ) and 2014 ( $ 208,900 ) . That equate to a 13 % gain over two year . ”
That enunciate , have a tone at the map above , and take solace in the fact that there’sno major caparison bubbledeveloping here at the moment .
Howmuch.net
[ HT Reddit ]
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Sam Blum is a News Staff Writer for Thrillist . He ’s also a soldierlike arts and music nerd who appreciates a fine sandwich and cunning dogs . feel his clip in The Guardian , Rolling Stone , The A.V. Club and Vice . He ’s on Twitter@Blumnessmonster .
