What's the salary you have to earn to buy a home in your city?

6 Replies

Do you know the annual salary you need to own a home in your city? Share it here! :)

Well that depends greatly on the area. In Jessup/Columbia Maryland most make over 90K annually individually. Household incomes are around 150K-200K. To own a decent home I would say at least 100K annually for the household. That goes for condos, townhomes, etc. Apartments can range from 1700-2000 monthly.

Originally posted by @Dave Visaya:

Do you know the annual salary you need to own a home in your city? Share it here! :)

 If the deal is great your salary doesn't matter -- use other peoples money.

Kudos,

Mary

@Mary B.   I couldnt agree more. I'm just checking on how people approach rentals or just instead buy their own house. 

@Tyrus Shivers  good advice man, thanks!

@Dave Visaya  

@Mary B.  

Manhatton 1 mil a year is a nice lifestyle..  La  250 to 500k ... SF 300 to 600k .. Same with peninsula... Best parts of Chicago 250 to 750k... Yazoo city Mississippi 25k.

You get the drift it depends

Didn't they used to say that a home should cost no more than 3x your annual income? I think that was forgotten during the bubble years. 

Average household income in the US is right around $50k/year I believe. Here in my part of MD (Baltimore County) I don't see much you can buy for $150K.

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