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 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!



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