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Old 04-23-2019, 08:58 PM   #1
 
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Default Annual salary needed to own a house in major metros

Holy fucking California

https://howmuch.net/articles/salary-...gest-us-metros

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The data for this visualization comes from the mortgage information site HSH Associates. In conducting their analysis, HSH compiled median-home price data from the National Association of Realtors, national mortgage rate data from Freddie Mac and the Mortgage Bankers Association of America, and property tax and homeowner’s insurance costs data to determine the annual salary it takes to afford a home (including principal, interest, property tax and homeowner's insurance, or PITI) in the nation's 50 largest metropolitan areas. The analysis also assumed a down payment of 20%.
The Top 5 Metro Areas With the Highest Salary Required for Buying a Home
1. San Jose, CA - $254,835.73
2. San Francisco,CA - $198,978.01
3. San Diego, CA - $131,640.79
4. Los Angeles, CA - $123,156.01
5. Boston, MA - $106,789.93

The Bottom 5 Metro Areas With the Lowest Salary Required for Buying a Home
1. Pittsburgh, PA - $37,659.86
2. Cleveland, OH - $40,437.72
3. Oklahoma City, OK - $41,335.41
4. Memphis, TN - $41,400.93
5. Indianapolis, IN - $42,288.92
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Old 04-23-2019, 09:05 PM   #2
 
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Old 04-23-2019, 09:54 PM   #3
 
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Whoa... I knew the cost of living there was high, but didn't know it was that exorbitant!
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Old 04-23-2019, 09:57 PM   #4
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Memphis is far enough south to avoid major snow.
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Old 04-23-2019, 10:04 PM   #5
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I expected Denver to be higher, seems on par though. Actually buying a house is the hardest part.
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Old 04-23-2019, 10:14 PM   #6
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Yup. I did some research last year on this. I had a job opportunity with a major tech company and decided even at a fraction of the salary, I can live more comfortable in Illinois. That and I don't want to live in California.
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Old 04-23-2019, 10:16 PM   #7
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Other than weather, I truely dont see the fixation with California.... it is a horribly expensive, stressful, batshit crazy environment to live in.
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Old 04-23-2019, 10:18 PM   #8
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Other than weather, I truely dont see the fixation with California.... it is a horribly expensive, stressful, batshit crazy environment to live in.
The weather is amazing, great scenery, and 9/10 women are hot
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Old 04-23-2019, 10:24 PM   #9
 
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Memphis is far enough south to avoid major snow.
And plenty of crackhouses to keep property values low.
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Old 04-23-2019, 10:28 PM   #10
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And Predator fans.
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Old 04-23-2019, 11:23 PM   #11
 
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LOL. My wife and I took our first trip together to Memphis. I just wanted to checkout Graceland...later that night we were looking for a place to eat and stumbled upon Beale street. Neither of us heard of it before, so it was quite an experience. We had a real good time there. However, it's pretty grimy as cities go once you go beyond the downtown. And if the fault down that way ever lets go again, Memphis is going down.
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Old 04-24-2019, 04:18 AM   #12
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Who the fuck buys a house in SF anymore?

Bring a tent, camp out under your favorite overpass.

You're golden.

BUY a house? Puh-LEEZE....

Oh yeah. Poop anywhere you want and don't step in it. There's an App for that.
https://www.sfgate.com/bayarea/artic...t-13281837.php
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Old 04-24-2019, 05:36 AM   #13
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California
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Old 04-24-2019, 06:15 AM   #14
 
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California
Also. That state government is fucked up. Probably worse than IL.
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Old 04-24-2019, 06:30 AM   #15
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Whoa... I knew the cost of living there was high, but didn't know it was that exorbitant!
Wages are also much higher but don’t totally make up for it. I first saw this map on reddit, a couple people were saying starting pay for a union dish washer in LA at say a hotel is $18/hr. Journeyman level trades are all in the mid 50s-60s per hour.

These places also have a way, way higher potential for earnings for someone trying to move up in a career. You can make a lot of money in Chattanooga but the potential is exponentially larger to earn stupid amounts of money in Silicon Valley, NYC, LA.

It’s great that you can work an entry level post college job in one of those lower cost places and buy a house at 21-22. NYC, you’re living in a shoe box apartment for 5 years but your pay went from $80k starting to $250k.
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Old 04-24-2019, 06:50 AM   #16
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Originally Posted by cmntmxr57 View Post
Memphis is far enough south to avoid major snow.

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Old 04-24-2019, 06:58 AM   #17
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California
Have you spent any time in California? It’s beautiful. You’re actually getting something worth your tax dollars.

Living in a corrupt, high tax, broke state, the only attraction to being here is the liberal haven of Chicago and the job market it provides.

The hate for California while also living in IL is laughable to me. California is definitely the much better place to be given all the above.
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Old 04-24-2019, 07:06 AM   #18
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Anytime I was out there for work I couldn't wait to get back.

edit.

well.
LA area.


south of there i enjoyed.
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Old 04-24-2019, 07:10 AM   #19
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Anytime I was out there for work I couldn't wait to get back.

edit.

well.
LA area.


south of there i enjoyed.
Most of the people, definitely not a fan. LA itself I enjoy though.
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Old 04-24-2019, 07:11 AM   #20
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Most of the people, definitely not a fan. LA itself I enjoy though.
The lack of public transportation (in LA) was fucking MINDFUCKING to me.
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Old 04-24-2019, 07:40 AM   #21
 
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^ x2

You would think a place like that would really benefit from a Subway or monorail type system. Especially to and from the airport to various locations.
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Old 04-24-2019, 07:42 AM   #22
 
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I don't see them on the map, but isn't Hawaii stupid expensive as well?


California is beautiful but my shithole of a house would be like 500k out there and I know I'm not getting paid 4x the amount I am now so I'm out.
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Old 04-24-2019, 07:59 AM   #23
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The hate for California while also living in IL is laughable to me. California is definitely the much better place to be given all the above.
Seriously. Their property taxes are much lower than IL, and your quality of life will be higher.

If you pay 2.5-3% property taxes and think the people of CA are idiots for paying $400/ft for a house, I have bad news for you, they're getting more for their money than you are.
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Old 04-24-2019, 08:02 AM   #24
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right cuz paying interest to a bank is better than paying taxes to the government
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Old 04-24-2019, 08:04 AM   #25
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I think we're all idiots


#vanlife
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