Community Chat

[ALRATIBA]

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@I am still oxox wrote:

I live in NY, and the $91,000 is an aerage since upstate is much cheaper than Scarsdale

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@I am still oxox

I live in Manhattan ... I just googled and the 2018 median home price in Manhattan is $1,323,500.    It looks like a minimum income of about $120,000 is needed to qualify.  

[RetRN]

@151949

It also doesn't address living rural vs living in a city - which are vastly different money wise.

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Duh? That is why it says average.

[dmod nj]

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@I am still oxox wrote:

I live in NY, and the $91,000 is an aerage since upstate is much cheaper than Scarsdale

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Hi @I am still oxox  I have family in Scarsdale.   What you posted is so true! Taxes alone are a killer! 

[Mona_L]

I am PA (born & bred) yup ! ... no surprise there.

Curious, why would MN be so high?

[dmod nj]

I agree with all of you who disagreed with Jersey's number. I can't speak for southern Jersey, but central and northern Jersey is very expensive. 

[GenXmuse]

My state is about right. 

[AussieLuvr]

We live well in a large, nice home in a high end community in NC for far less than the average indicated on this map. BUT, we have very little debt. 

[I am still oxox]

@dmod nj

Ha I live one town South of Scardale, less cost and attitude here 

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@dmod nj wrote:

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@I am still oxox wrote:

I live in NY, and the $91,000 is an aerage since upstate is much cheaper than Scarsdale

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Hi @I am still oxox  I have family in Scarsdale.   What you posted is so true! Taxes alone are a killer! 

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[patbz]

I disagree about estimate for California; I lived in a rural area and maybe you could get a small home for that but this is an average and when include any big city this won't work.

[gizmogal]

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@I am still oxox wrote:

I live in NY, and the $91,000 is an aerage since upstate is much cheaper than Scarsdale

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Yes, perfect example. Let me add update NY is much cheaper than my part of Brooklyn, too!  New York City property taxes are relatively low ( certainly compared to Scarsdale) but cost of the homes here is surprisingly high. 

I bought my house in 1983 for a bit over $79K. It’s only 1180 square ft. I’d be able to sell it pretty quick if I asked for $425K right now!. That’s not much compared to houses in Scarsdale, but upstate NY, no one would need that kind of money for a house like mine!  

Annual salary averages are not true indicators of home values in a state like NY, and perhaps others. There are big extremes in buying power when there are real distinctive differences in urban, suburban and rural living locales.