Are you planning to move to another city pretty soon? I guess you have to stop for a while and look at the salaries you need to afford a house in the city you’re planning to transfer to. I have to warn you–the cost of real property across the country varies from city to city and from region to region.
Say, you’re living in Cincinnati, and you’re pocketing income affording you to live comfortably. That’s cool. However, owning that exact amount of cash in San Diego and you’ll be in trouble. You’ll be worried out of your wits because you’ll not be able to pay rent, let alone afford to go eat out even just once in a while.
The worse part is, if you happen to live in Cincinnati, you’ll have to earn four times what you’re currently earning to be able to afford a real property in San Diego.
What am I getting at here? I did a research about salaries and prices of houses in major key cities in the U.S., and I’m quite sure your curiousity will be pricked like never before.
Look at the differences in prices…
(The map illustrates these differences. The wider the circle over a city, the more you need to make to afford a house there):
Here is a table of the 25 cities and the salary you need to earn to afford the median-priced house based on HSH.com’s estimates:
Sources: ANDY KIERSZ, HSH.com
Featured photo credit: HSH.com Salary estimates per major city/ HSH.com via Business Insider
Author: Anthony Dejolde