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You live in Southport (the Gold Coast of Fairfield County) so sometimes I don't think you can relate to us common middle class folk of Fairfield County. $400 to $500 a month to common Fairfield County middle class folk is a lot of money especially in retirement. Not to mention the working class of Fairfield County.
Median Southport HH Income: $200,000
Per Capita: $132,000
Median Southport Home: $955,000 (I thought it would be more frankly but Southport still a lot wealthier than Trumbull) https://www.redfin.com/city/34919/CT...housing-market
You know you are one of my favorite posters because you live in Southport, are a Fairfield County/CT cheerleader and all around promoter. One of the things that makes you charming is that you think everyone in Fairfield County is rich.
I always find household income numbers suspect. There's no way a person could get a home in Southport with an income of only $200k per year, given the housing prices. I guess that number must include a lot of people who are maybe older, have lived in Southport a long time, and bought at much lower prices. Even so, that seems almost a subsistence level income to live in place like Southport. There's no way a person with that income would be living the lifestyles of the rich and famous lifestyle that SteveM85 portrays. You'd need an income much closer to $1 million a year for that.
I was invited to a couple of Southport bashes over the summer. All the big shots were there, but never said I lived there. Yes, a boat, so what, who doesn't in FCounty? It's 20 years old. Middle class and undocs have boats bigger and nicer than mine.
I'm sure many many Trumbull and Shelton residents own nice boats on the Housatonic. Marinas and boats line the entire CT coastline, end to end, front to back, not just FCounty.
I wonder how wealthy Westport, Darien, New Cannan resident first impressions of Shelton and Trumbull.
I always find household income numbers suspect. There's no way a person could get a home in Southport with an income of only $200k per year, given the housing prices. I guess that number must include a lot of people who are maybe older, have lived in Southport a long time, and bought at much lower prices. Even so, that seems almost a subsistence level income to live in place like Southport. There's no way a person with that income would be living the lifestyles of the rich and famous lifestyle that SteveM85 portrays. You'd need an income much closer to $1 million a year for that.
HI numbers are meaningless.
Middle class Trumbulls don't make 400K per to afford 400K homes.
Mortgages, family wealth, inheritance, investments, bonuses. You don't need to make a $M/yr to afford even a $2M home.
There are more modest areas around the highway and Rt 1. The mansions on the water skew it up.
Guys I know make around that much live just north of the highway. Wives don't work, they just drink Pinot and Chardonnay all day. One guy can see the highway from the front yard. These people live it up. They're not starving. They pay for private schools for multiple kids (30K+ each kid) and travel sports and gymnastics like it's nothing.
Rinse, repeat for the rest of the coastline on down.
HI numbers are meaningless.
Middle class Trumbulls don't make 400K per to afford 400K homes.
Mortgages, family wealth, inheritance, investments, bonuses. You don't need to make a $M/yr to afford even a $2M home.
There are more modest areas around the highway and Rt 1. The mansions on the water skew it up.
Guys I know make around that much live just north of the highway. Wives don't work, they just drink wine all day. One guy can see the highway from the front yard. These people live it up. They're not starving. They pay for private schools for multiple kids (30K+ each kid) and travel sports and gymnastics like it's nothing.
They're not paying for those private schools on $200k/year of income. That's for sure.
You don't need to make a $M/yr to afford even a $2M home.
This is very true. You can have a HH income of around 200-250k and easily be shopping for homes between 1 and 2m, depending on what’s saved for a down payment. It’s all about money management and debts.
This is very true. You can have a HH income of around 200-250k and easily be shopping for homes between 1 and 2m, depending on what’s saved for a down payment. It’s all about money management and debts.
Realistically though, you'd need a pretty high income and/or inheritance to get that large of a down payment. And with a house that expensive, taxes and maintenance are often a lot of money, which would pinch an income of $250-250K. It's theoretically possible to do it, but I don't think it's that common that somebody with an income of $250-250K would have a down payment high enough for a $2 million house, not to mention the ability to pay the taxes on it every year.
Realistically though, you'd need a pretty high income and/or inheritance to get that large of a down payment. And with a house that expensive, taxes and maintenance are often a lot of money, which would pinch an income of $250-250K. It's theoretically possible to do it, but I don't think it's that common that somebody with an income of $250-250K would have a down payment high enough for a $2 million house, not to mention the ability to pay the taxes on it every year.
Many who make 200-250K don't just make 200-250K and that's the end of it. They have inheritance, they have investments, they play the market as a hobby. One guy just bragged to me he made 300K this week alone on Tesla blowing up. That's a down payment right there.
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