http://www.huffingtonpost.com/entry/income-to-buy-home_us_57bca543e4b03d51368b32d0
This is with 20 percent down.
Do these numbers look good? They are based on median priced homes.
My son in law keeps mentioning it is a lot cheaper to live in Austin, TX than the SF bay area. Just saw him yesterday. He mentioned this again.
Even though Austin is not on the list, it is hard to argue when looking at these numbers.
Even though it is only a little different, I don’t think you’d need more in Detroit than in Cleveland. But I don’t know if Detroit is over-estimated or Cleveland is under-estimated.
I read a story yesterday based on same research but cannot find it in my search history, so it must have been in the print paper, NYT or WSJ.
I was wondering why their NYC salary figure was so low. While NYC prices are not yet at SF levels, they are definitely high.
Different topic, but this appeared on yesterday’s online site.
Looks right for Seattle.
$82k annual salary with 20% down will buy a 1 br condo in Seattle if that’s what they mean by a “house.” They must be counting suburbs as far north as Lynnwood and as far south as Kent.
That 40k for Atlanta is ludicrous. You can buy a beat up old starter home in a falling apart super exurb at that salary (and we’ve done that years ago). Or, a 100 year old never remodeled house in a part of the city proper where you better have bars on the windows.
All of these seem to be “where can you buy a house within an hour commute on this salary”.
And good ammo, dstark, real Austin and good suburbs are much higher than the general Austin area.
@dragonmom, what are the real prices in great school districts in Austin amd the surrounding suburbs for a 3,000 sq ft house?
Is Cedar Park considered a good suburb?
An hour commute would be generous in Seattle given the traffic.
http://move-to-austin.com/austin-tx-neighborhood-descriptions/
for you, @dstark
This one is specifically about schools
38k isn’t going to cut it in most Detroit suburbs. Detroit, certainly, but if they’re including suburbs, that needs to go up.
I’d like to see a side by side comparison of salary/average house price/monthly payment w/20% down for that house. Cause I"m having a hard time seeing my 24 year old son who is a teacher making that Detroit/Cleveland amount…
And our house prices (we are between Detroit and Cleveland) are probably pretty low!
The figure for San Francisco is way too low(162k) to purchase a house. Try like $250k is more realistic, and even at that salary, with 20% down, you will get a very small house( under 1000 sq.ft).
The map provided by our friend @greenwitch is very much what I have always heard. Our district gets bundled with Westlake and Round Rock, cedar park, Westwood. Good luck buying cheap in Westlake. It will be cheaper than Silicon Valkey, but what isn’t ?
@dragonmom, yeah… But cedar p is way cheaper. Nothing out here than can come close to those prices.
And a Google search for Westlake Tx will come up with the Dallas exurb not the school district. Nice houses, reasonable prices, good school district (Northwest ISD). A great place to relocate your family but hundreds of miles from Austin.
@greenwitch, those were excellent links.
If you want to know about Austin area schools please feel free to PM me. There is so much more than test scores to consider!