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re: The average US house now requires a salary of $106k-a-year - $50k more than in 2020
Posted on 3/5/24 at 4:43 pm to RogerTheShrubber
Posted on 3/5/24 at 4:43 pm to RogerTheShrubber
quote:
Nothing, but it means 50% of the population doesnt face insane housing prices and can find more affordable housing, which is a sizeable portion of the population
I don’t live in one of the top 50 metro areas and I earn slightly higher than the average salary for my state and a smidge over the average for my metro and our average home price is over 5 times my annual salary. The better than average zip codes are 6-7 times it. The top 20-25% zip codes are 8 times it. The top 3-4 zip codes are all well over 10 times it.
I’m old enough to remember when the vast majority of homes in my metro were under $100/sq foot. Now half of them are ~ $200/sq foot or more.
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