This Is the Salary You Need to Afford the Average Home in Your State

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The higher your salary, the more house you can probably afford.. need to earn the most to afford a median-priced home were all in California,

Here’s what your salary should be to afford an average Arizona home. A new study by HowMuch.com shows just how expensive it is to buy an average house in every state. a renter would need.

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Had they used the 20-4-10 rule as a guide to how much they should borrow, which importantly is designed to protect people.

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To buy a home in Florida, you need to make $70,360, according to a cost. minimum salary required to afford the average home in each state.

Using this rule as our benchmark, we calculated the minimum salary required to afford the average home in each state. Top Five Places Where You Need the Highest Salaries to Afford the Average Home. 1. Hawaii: $153,520 for a house worth $610,000. 2. Washington, DC: $138,440 for a house worth $549,000

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At this level, your monthly home payment is consuming 50% of your monthly net take home pay. I would argue that you should use your net monthly pay to calculate what you can safely afford. That is for this couple, they can afford a home with a monthly payment no larger than: $4,870 / 3 = $1,623 per month

How much do you really need to afford the cost of living “comfortably” in Los Angeles?. of personal budgeting (50% of your income goes to basic housing and food, The average rent for a 1-bedroom in L.A. today sits at around $2296 per month.. Whether you live in Los Angeles, California or Los Angeles, Texas ( yes,

This is the salary you need to earn to buy a house by the year 2020. It might be worth clarifying here that the average UK salary is currently . (more or less) was a home-owner. This state.

How much do you need to make annually to afford a 700k house? Interesting number because that is what the median house price is in Seattle Washington these days. This is what I consider safe and I am conservative. You can finance 3 times your annu.