This Is the Salary Youll Need to Afford a Home in Each of the 50 States

If you’ve been wondering how much you’ll need to buy a home in your state, we’ve got an answer. Finance website HowMuch.net recently did the math on house affordability by state.

Each salary was figured using average home prices from Zillow and a mortgage calculator, adding an interest rate between 4 and 5 percent. The figures are also based on a 30-year mortgage, assuming that buyers would be supplying a 10-percent down payment.

Remember that financial advisors usually recommend that the cost of housing should occupy no more than 30% of your gross income. That being said, read on to find out your state’s ideal salary for real estate purchase!

Advertisement

Source: http://twentytwowords.com/

Add Comment