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.
Home size was a throw off line, not the major thrust. The main point is the original post, how much income to be earned to secure a mortgage. I decided to supplement that information with an added filter of what the median household makes in said metro. That allows some rudimentary mortgage accessibility quotient. Even given California’s relatively higher income, it takes many times more of one’s income to secure a mortgage than elsewhere in the country.
Right and people with drive and initiative make it happen every day.
I am really curious when Pittsburgh will take off.
It is a legacy city with so many great assets. From decent transit, to highly regarded institutions of higher education, to arts and culture institutions that you find in cities 3 times its size.
Its real estate market is incredibly affordable.
I will argue that Pittsburgh offers more than Austin in most categories.
I am really curious when Pittsburgh will take off.
It is a legacy city with so many great assets. From decent transit, to highly regarded institutions of higher education, to arts and culture institutions that you find in cities 3 times its size.
Its real estate market is incredibly affordable.
I will argue that Pittsburgh offers more than Austin in most categories.
It's a stunningly beautiful city too. Definitely deserves more praise.
I am really curious when Pittsburgh will take off.
It is a legacy city with so many great assets. From decent transit, to highly regarded institutions of higher education, to arts and culture institutions that you find in cities 3 times its size.
Its real estate market is incredibly affordable.
I will argue that Pittsburgh offers more than Austin in most categories.
Property taxes in Pittsburgh are high. The city and metro area hasn't gained population in the past decade. Austin meanwhile is growing rapidly.
Lol your comparing home sizes? Why would someone looking for the urban, high density lifestyle SF offers need as much space as someone in TX? Such an odd thing to point out.
The median home price in the inner Bay Area(Pop 6.6 million) is around $1.2 million, yet locals spend just 1-2% more of their income than people in Austin or Dallas, which are both far cheaper---shouldnt Texans be spending far less? Odd.
California is more expensive but Texans dont seem to be faring that much better.
That's not surprising at all. I work with many people in the Bay Area. They don't in general spend that much more on housing than people in Austin do. The big difference is that they either live in absolute hole apartments with basic amenities that are missing, or they have insane daily car commutes from places like Pleasanton or whatever. Whereas in Austin the young people are living in centrally located luxury apartments and older people have large houses. Home ownership is also much more common in Austin. But in terms of rent you are usually talking about $3k in the Bay Area vs $2-2.5k in Austin or something like that.
I make $103,690 in Washington D.C. and I don't see any way the $91,548 number is accurate. I'm basically resigned to 1 bedroom condos in the city proper or suburban homes 1 hour from D.C. proper. To get a basic 2-bedroom house, I'm having to look in Frederick and Manassas, well outside the city or even the Beltway.
The big problem is the list presumes you're making a 20% downpayment. I don't know a single person in D.C. who put down $100k as down payment. Even 10% seems too high. More like 5%.
I know people who put down 20% or more because it's so expensive here they didn't want a super high mortgage, I think it just depends on your situation.
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
7,409 posts, read 6,542,189 times
Reputation: 6677
So do I....not to mention avoiding PMI with 20%+ down.
Quote:
Originally Posted by NOVA_guy
I know people who put down 20% or more because it's so expensive here they didn't want a super high mortgage, I think it just depends on your situation.
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.
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.
