U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-10-2018, 08:23 PM
 
Location: Floribama
13,483 posts, read 29,425,055 times
Reputation: 11879

Advertisements

It has $47k listed for my state (AL). It’s possible at that income, but it will get you a 1960s rancher with one bathroom, not some huge new house with a 3 car garage like so many people nowadays seem to expect.
Reply With Quote Quick reply to this message

 
Old 04-10-2018, 08:52 PM
 
3,526 posts, read 1,985,593 times
Reputation: 6109
The state maps are misleading as there is so much intra-state price variation within MSAs. Texas can be very expensive or dirt cheap depending on where you live. New York is skewed by NYC where some places upstate are dirt cheap. It also doesn’t take into account for property tax which has 300-500% volatility between the extremes in states.
Reply With Quote Quick reply to this message
 
Old 04-10-2018, 09:45 PM
 
5,742 posts, read 1,286,552 times
Reputation: 2980
Quote:
Originally Posted by CGab View Post
I was thinking the same thing! This map HAS to be way wrong! Texas and Arizona higher than Illinois? LOL!!!
Much of Illinois away from Chicago has very low housing prices. Arizona is basically Phoenix and Tucson with fewer smaller towns around the state. And the ones that do exist are pricey resort towns like Prescott, Sedona and Flagstaff.

So I could easily see Arizona having a higher median price that Illinois.

But I would say a comparable home and neighborhood in Chicago would cost more than that same sort of house in Phoenix.
Reply With Quote Quick reply to this message
 
Old 04-10-2018, 10:49 PM
 
4,706 posts, read 2,251,841 times
Reputation: 8687
Quote:
Originally Posted by jackwinkelman View Post
Arizona is basically Phoenix and Tucson with fewer smaller towns around the state. And the ones that do exist are pricey resort towns like Prescott, Sedona and Flagstaff.
Nah man there are lots of small cities in Arizona that aren't pricey resort towns, most of 'em are pretty cheap. For example Yuma is much bigger than Prescott/Sedona/Flag. Bullhead, AJ, Sierra Vista, etc.
Reply With Quote Quick reply to this message
 
Old 04-11-2018, 06:14 AM
 
Location: Wooster, Ohio
875 posts, read 651,855 times
Reputation: 1219
Ohio is number 2, close behind number 1 West Virginia. Ohio does not have a reputation as a low cost, low tax state, but the more I look, the more I find that moving out of state would end up costing me more to live.
Reply With Quote Quick reply to this message
 
Old 04-11-2018, 08:41 AM
 
2,265 posts, read 1,215,966 times
Reputation: 4492
Quote:
Originally Posted by redguard57 View Post
How Much You Need to Make to Afford a Home in Each State | Mental Floss

I'm somewhat surprised by the orange states... ie: everyone says Texas is so affordable, but according to this it's higher than average.
About 5 years ago, TX would probably have averaged just a bit higher than OK, probably about on par with Louisiana. However, prices have almost doubled where I live in the last 5 years, no joke. Also, TX has that reputation because the average home here is going to be larger than the average home in most other states. So price/sq ft is very good here, and contributes to that reputation, you get a lot of bang for your buck.

Quote:
Originally Posted by CGab View Post
Whereas a state like Arizona or Texas where the property taxes are lower makes a HUGE difference.
I don't know about Arizona, but TX doesn't have low property taxes. Not at all. We have no state income tax, so we have high property taxes to make up for it. I paid $16k in property taxes last year. That being said, I still come out ahead by not having a state income tax.
Reply With Quote Quick reply to this message
 
Old 04-11-2018, 01:40 PM
 
Location: Las Vegas
504 posts, read 455,499 times
Reputation: 396
The map does not take state income tax and property taxes into account. If you find a place to live with no or low state income tax and low property taxes, you have more income to afford a mortgage.
Reply With Quote Quick reply to this message
 
Old 04-11-2018, 02:02 PM
 
218 posts, read 69,264 times
Reputation: 553
I agree that the map has lots of 'splainin to do.

But as for Texas, yeah, homes are cheap. But have you looked at their real estate taxes!
Reply With Quote Quick reply to this message
 
Old 04-11-2018, 02:29 PM
 
Location: Honolulu, HI
4,550 posts, read 1,138,948 times
Reputation: 6517
These maps and articles are nothing but conversation starters and clickbait.

You simply can't generalize an entire state. Some folks are on welfare while others are transgenerational millionaires.
Reply With Quote Quick reply to this message
 
Old 04-11-2018, 02:29 PM
 
2,240 posts, read 1,385,700 times
Reputation: 4894
The problem with this is the basic economics Of house values being super high in the metros because of the concentration of high paying, good jobs. The lower housing costs in these states are in the areas with low paying jobs or no professional jobs.

It doesn’t make sense to look at an average income vs an average house cost because that’s not even a realistic scenario.

A state average house cost located in a major metro is probably going to be in the ghetto or need a full gut. So sure, you make a middle tier wage in a big metro to put you above the state average dragged down by the low paying areas....but that just means you can’t afford a good house in that metro and you sure as hell cant commute in.

Outside of finding the super good Fortune 500 job located in a small town, you aren’t going to see high wages and low housing. Or a high end remote job.

Last edited by Thatsright19; 04-11-2018 at 02:45 PM..
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top