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And housing was a factor.
"6. Upper quartile house value. This is the price that is higher than 75 percent of all home values within an area, but lower than the top 25 percent.
7. Median house value."
We just spent a day in Santa Fe and the affluence was noticeable. Even the less fancy houses looked expensive. The houses on the hill looked very pricy. Santa Fe is in a lovely setting and has attracted the very wealthy. I have never seen so many "Fine Art" galleries in such a small space as along Canyon Road.
And housing was a factor.
"6. Upper quartile house value. This is the price that is higher than 75 percent of all home values within an area, but lower than the top 25 percent.
7. Median house value."
That's true. I guess I was thinking cost of housing vs. average income. Santa Fe's top end is very, well, top end. But there is a substantial bottom end, as well, where folks don't have much disposable income left after paying for housing costs. That upper quartile is pretty staggering for a city our size, though.
That's true. I guess I was thinking cost of housing vs. average income. Santa Fe's top end is very, well, top end. But there is a substantial bottom end, as well, where folks don't have much disposable income left after paying for housing costs. That upper quartile is pretty staggering for a city our size, though.
Right, I guess the issue is that when considering affluence you pay more and you usually get more so just looking at affordability is a separate issue. Something can be affordable and not particularly nice or it can be affordable and very nice. Much of the real estate in Santa Fe can be considered high-end vs. many other places.
It figures that Los Alamos was in there and house value, while a good measure of affluence in the rest of the US, is not such a good indicator here. Someone may have moved here in 1960 and bought a plain, government built house. That house won't be worth much today but the owner might be a multi-millionare.
Having pretty much grown up on Chicagos North Shore I've grown quite used to the ways of these people with cash in a few of the most affluent towns in the USA. Most all of my HVAC service is still in this area and even though I'm just a joe average business owner in time you get to the point where you don't even notice. I kind of have to laugh because it's not for those that lean toward envy lest I would have been hanging from a rope years ago. I've seen a garage with an elevator so the guy can bring his cars in the basement to wash them and play around, a lady with a tram to take her down to her beach.....eccentrics.
If we are talking lotto bonanzas, I'd take a 1 million house up Santa Fe way or in the Sandia foothills any day over any one of those megamil homes on the shores of Lake Michigan. Till I can finally move out that way and buy something for far less than a million I'll settle for visiting a couple times a year, hike badlands, and occasionally look in all the windows at the stuff I can't afford.
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Average prices per square foot in Santa Fe range from $147 - 320 depending on the neighborhood, quality, condition, size. I see prices in New York City (yeah, I know, not a real comparison - but just for fun) averaging $1700/sq.ft. and wonder how anyone can afford to live there......Then again, I'll bet a place like Guthrie, Oklahoma is quite a bit less than Santa Fe so I guess it all depends on what individuals are willing to give, or give up, to live where they want.
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