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Old 05-02-2019, 10:40 PM
 
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In Atlanta, you only need a salary of $49,840.16 to buy a house with a median home price of $216,100

Only Detroit is lower, with a salary of $46,809.89 needed to buy a house (median home price of $186,317)..

https://howmuch.net/sources/salary-n...gest-us-metros
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Old 05-03-2019, 06:51 AM
 
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Awesome news to hear. I'd be curious to know how it differs between North of I-20 and South of I-20. It seems that the metro averaged data is what throws so many new residents off...... they see data like you provided and say "I'm so excited to move to Atlanta, it's inexpensive there!!!" Then they try to move near their job in Perimeter only to find out the median home price is $400K+ within a 30 minute commute.
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Old 05-03-2019, 06:56 AM
 
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It's kind of a silly metric because metro areas are so huge and diverse.

How many people would be excited by the kind of house $216k buys you in Atlanta, or any of its even somewhat nearby suburbs?

Maybe 10 years ago, but certainly not today. Even my cookie cutter 3 bedroom/2.5 bath mass produced Pulte home that I bought for about that way out in Duluth is worth more than $300k today (according to Zillow).
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Old 05-03-2019, 07:10 AM
 
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Quote:
Originally Posted by Citykid3785 View Post
Awesome news to hear. I'd be curious to know how it differs between North of I-20 and South of I-20. It seems that the metro averaged data is what throws so many new residents off...... they see data like you provided and say "I'm so excited to move to Atlanta, it's inexpensive there!!!" Then they try to move near their job in Perimeter only to find out the median home price is $400K+ within a 30 minute commute.
Absolutely. Expectations from people who move to Atlanta is the real issue.

They want to pay less than $200K for housing while also having places like Trader Joe's nearby and the best of the best schools.

If people are willing to accept just decent but not exceptional schools and just decent but not upscale amenities (as their budget allows), they can still live like Kings and Queens in Metro Atlanta.
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Old 05-03-2019, 08:22 AM
 
45,676 posts, read 23,994,029 times
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Quote:
Originally Posted by citidata18 View Post
In Atlanta, you only need a salary of $49,840.16 to buy a house with a median home price of $216,100

Only Detroit is lower, with a salary of $46,809.89 needed to buy a house (median home price of $186,317)..

https://howmuch.net/sources/salary-n...gest-us-metros
And that's why it is a great city for young people. The wages are good/comparable to other big cities and the cost of living is low.

Sports teams, concerts, good location.

I know -- traffic -- but every city has traffic
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Old 05-03-2019, 08:54 AM
 
1,326 posts, read 2,390,132 times
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Quote:
Originally Posted by ATLTJL View Post
It's kind of a silly metric because metro areas are so huge and diverse.

How many people would be excited by the kind of house $216k buys you in Atlanta, or any of its even somewhat nearby suburbs?

Maybe 10 years ago, but certainly not today. Even my cookie cutter 3 bedroom/2.5 bath mass produced Pulte home that I bought for about that way out in Duluth is worth more than $300k today (according to Zillow).
How is it silly?I wouldn't take the specific numbers literally and expect to get a home I'm going to like paying 216K or just making 49K. I think what's important here is the relative ratios between cities when comparing the average cost and required salary across all metro areas. A 216K home is not necessarily going to be nice but it's available at least. The cost everywhere has gone up, Atlanta is still cheap relative to every one of the ten to fifteen largest major cities and lower than a lot of much smaller cities on the west and east coast. In some cities you can't find anything listed for under 300-400K period. Now the quality of life of those cheaper homes will suck due to traffic and living so far out but that's going to be true for most of the other cities too to some extent.

Last edited by Huntsville_secede; 05-03-2019 at 09:15 AM..
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Old 05-03-2019, 09:21 AM
 
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A breakdown by county would be a lot more useful. Atlanta has a bunch of outlying counties in the metro that are pretty cheap but aren't reflective of the most desirable/fastest-growing parts of the metro.
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Old 05-03-2019, 09:27 AM
 
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Originally Posted by Mutiny77 View Post
A breakdown by county would be a lot more useful. Atlanta has a bunch of outlying counties in the metro that are pretty cheap but aren't reflective of the most desirable/fastest-growing parts of the metro.
That's true but that's not entirely unique to Atlanta either.
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Old 05-03-2019, 09:30 AM
 
37,875 posts, read 41,896,305 times
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Quote:
Originally Posted by Huntsville_secede View Post
That's true but that's not entirely unique to Atlanta either.
Of course not, but it would still be a lot more useful.
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Old 05-03-2019, 10:04 AM
 
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Quote:
Originally Posted by Huntsville_secede View Post
That's true but that's not entirely unique to Atlanta either.
Exactly.
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