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Doesnt expensive count only if the person cant afford because if you have money then alot of places can be least expensive to that person unless you are talking about the average person.
Doesnt expensive count only if the person cant afford because if you have money then alot of places can be least expensive to that person unless you are talking about the average person.
I've made this statement more than once or at least something to the effect that housing affordability is subjective.
Example: The median price of a home in my Connecticut hometown is approaching $400,000. That means an affordable or entry level home's cost is going to be about $200,000 with almost no housing stock available in the sub 200k category. 200k is hardly an affordable price for most Americans.
To some people 100k might be affordable while to others it might be around 50k. And if someone is going to pay cash for a home and not obtain a mortgage then something around 30k might be considered affordable.
If people could at least specify a dollar range for rentals or a maximum price on housing affordability it would make it far easier to steer them to a qualifying city or town.
Unrelated note: Glad to see the "O" word has been banned from most discussions. That pest had to be reigned in.
Last edited by WILWRadio; 08-21-2008 at 11:26 AM..
70K for a house 1000 sqft? holy crap, something like that definately doesn't exist up here....even in the ghetto when your dodging bullets you can't find a house for less than 200k
70K for a house 1000 sqft? holy crap, something like that definately doesn't exist up here....even in the ghetto when your dodging bullets you can't find a house for less than 200k
I took a pay cut to move here to Knoxville, but it was well worth it because of the almost ridiculously low cost of living here. Don't get me wrong, Knoxville has more than its share of stupid, high-priced McMansion developments, but for average joe schmoes like me living on an honest teacher's salary, this is a great place. Tennessee has a rather high sales tax (over 9%) but we have no state income tax, and property taxes are CHEAP. With a sales tax I am in total control of how much taxes I pay, and I like it that way. Even car registration is a flat $24/year no matter what kind of car I drive.
I have a friend who left here for Baltimore. She's getting paid about 50% more than I'm getting paid, but the cost of housing and utilities and property taxes in Baltimore is double what it is here. Easily. Granted, she lives in a more exciting city, but it comes at a steep price. Here she lived in a 2,500 sq ft home on a lake in the middle of a forest within the Knoxville city limits, in Balto she lives in a 1100 sq ft row house that still costs more. (Fortunately, her ex husband's alimony is helping her afford to live in Balto.)
Last year I seriously considered taking a teaching position in Salt Lake City. Teachers in Utah don't make a whole lot more than teachers in Tennessee, but the cost of living in Utah is outrageously higher. So I'm still in Knoxville and loving it. And I love the fact that as a teacher here I can afford a home in the city AND a cabin in the mountains for less than my friend in Balto is paying for her small row house.
While I understand that the word "affordability" is highly subjective, there are nonetheless places in the country where people like me (teachers, cops, etc.) can afford to live better than in other areas without having to get a roommate.
Location: New Albany, Indiana (Greater Louisville)
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Louisville would have to be up there. Kentucky has the LOWEST electric and water costs in the nation. A nice 1 bedroom apartment here would run from $425 and up. The East End has some really nice urban areas with tons of shops and restaurants, and lots of generic suburbs as well
BTW, does the City need to be 500k +, or the entire Metro 500k +?
Location: New Albany, Indiana (Greater Louisville)
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Quote:
Originally Posted by nate14ri
70K for a house 1000 sqft? holy crap, something like that definately doesn't exist up here....even in the ghetto when your dodging bullets you can't find a house for less than 200k
There are shotgun houses in Louisville and Lexington that are in good to decent areas for the price range (and less) and size
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