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Old 09-13-2017, 02:59 PM
 
Location: Asheville NC
1,602 posts, read 1,312,212 times
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Interesting article.

https://www.yahoo.com/news/apos-big-...184833822.html

Cost of housing is a major factor for many in retirement.
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Old 09-13-2017, 03:10 PM
 
13,874 posts, read 7,386,288 times
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That data is kind of useless. Within any state, $200K buys a very different kind of housing depending on the location. The primary factors impacting price are proximity to high paying jobs and quality of the school system. Those aren't things retirees care about.

My summer house where I intend to retire eventually is in Massachusetts. It's not anywhere near the high wage Boston jobs so real estate prices are moderate even though I'm on the coast in a nice harbor village where I can walk to the dinghy dock. Put that same house in a near-Boston harbor town like Marblehead or Hingham where you can get to those high wage jobs and the house costs three times as much.

California is like that. $200K buys an OK house in Fresno. That same house would be $1.25 million in Sunnyvale.
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Old 09-13-2017, 03:37 PM
 
Location: Asheville NC
1,602 posts, read 1,312,212 times
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Default You are right

Quote:
Originally Posted by GeoffD View Post
That data is kind of useless. Within any state, $200K buys a very different kind of housing depending on the location. The primary factors impacting price are proximity to high paying jobs and quality of the school system. Those aren't things retirees care about.

My summer house where I intend to retire eventually is in Massachusetts. It's not anywhere near the high wage Boston jobs so real estate prices are moderate even though I'm on the coast in a nice harbor village where I can walk to the dinghy dock. Put that same house in a near-Boston harbor town like Marblehead or Hingham where you can get to those high wage jobs and the house costs three times as much.

California is like that. $200K buys an OK house in Fresno. That same house would be $1.25 million in Sunnyvale.
Of course- but I thought, it did give a pretty good visual, of approximate differences. Interesting that D.C. came in as more expensive than NY.
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Old 09-13-2017, 04:40 PM
 
Location: VT; previously MD & NJ
2,186 posts, read 1,340,059 times
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Quote:
Originally Posted by funisart View Post
Of course- but I thought, it did give a pretty good visual, of approximate differences. Interesting that D.C. came in as more expensive than NY.
That's because it is comparing a city (DC) with a state (NY) that has a lot of rural areas upstate and to the west. If they compared DC with NYC, you might see them be closer together.
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Old 09-13-2017, 07:36 PM
 
Location: Washington State
18,459 posts, read 9,554,421 times
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Quote:
Originally Posted by funisart View Post
Interesting article.

https://www.yahoo.com/news/apos-big-...184833822.html

Cost of housing is a major factor for many in retirement.
Interesting, the least costly 16 states all voted for Trump and the 9 most costly all voted Hillary....that's fascinating to me.

I think it's good information but you need to add in property tax cost and insurance cost to come up with a true average cost for a retiree. For example, good friends of ours has a house in Houston area that is valued approximately the same as ours in Washington state but their total property tax and insurance runs $900/mo more than ours.
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Old 09-13-2017, 11:20 PM
 
Location: Sierra Nevada Land, CA
8,391 posts, read 9,134,430 times
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State by state housing costs are misleading. As a retiree in CA am I gonna live in San Jose where the median home price $1,000,000? A nice place to live. Or in the area I live, a nice place to live at a quarter of a house price. Property taxes are very low in CA. So many factors.
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Old 09-13-2017, 11:26 PM
 
Location: Out there somewhere...a traveling man.
39,530 posts, read 47,699,472 times
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Takes and insurance costs should 1st be taken into consideration. Some states are ridiculously high in ppty taxes and makes it difficult for some retirees to maintain a decent lifestyle.
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Old 09-14-2017, 05:42 AM
 
Location: Tucson Arizona
3,876 posts, read 1,646,297 times
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In my part of Hawaii, $200K gets you a pretty big house. Honolulu prices-- with the most houses and most people--throw off the average.

The whole thing is pretty useless.
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Old 09-14-2017, 06:53 AM
 
Location: Arizona
5,939 posts, read 5,295,505 times
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The importance of square footage depends on the area. Where I live now a 2000SF ranch house is a 2000SF ranch house. Where I came from a 2000SF ranch house also has 2000SF basement and a 2000SF attic. Big difference.
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Old 09-14-2017, 07:01 AM
 
Location: Tennessee
23,560 posts, read 17,535,380 times
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I wouldn't say this is useless, although it probably skewing toward housing closest to the major job centers, which isn't going to impact a retiree.

I spent three years in Indianapolis. Outside of a handful of the most prestigious suburbs on the north side, $200,000 will go a very long way. It can even get you new construction. IN property taxes are modest and other taxes are average to slightly lower than many other states.

https://www.trulia.com/builder-commu...lan/3272726943

Ohio is much the same way, with higher taxes. People think that OH is pure Rust Belt, but there are many nice communities in OH that are doing quite well.

I live in a small town in Tennessee. While our housing prices are still low, that same price area gets you a dated home in need of a lot of work. The housing quality here is nowhere near as high as Indianapolis, Columbus, or many other mid-sized Midwestern metros.

https://www.trulia.com/property/3160...sport-TN-37664
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