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Median home price in my area was $407,000 in 2005. You'd need to make $129K a year to afford it.
Posts by Herausgeber
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Joined
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Yep. I could not afford my own house at this point if I hadn't been lucky enough to catch this neighborhood just before the wave of gentrification did.
Mary Beth, are you in Cumberland, by chance? I used to work in Hagerstown, and it's been fascinating to watch even that town, which is insanely far away in my mind, become a suburb of D.C.
Originally Posted by skueppers  Yep, I live in the same metro area, and it seemed about right to me -- both the median home price and the income required to afford it. Luckily, we bought our house before the prices went through the roof, otherwise we certainly wouldn't be able to own a home here. |
Mary Beth, are you in Cumberland, by chance? I used to work in Hagerstown, and it's been fascinating to watch even that town, which is insanely far away in my mind, become a suburb of D.C.
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Me neither. We make more than that and don't have a mortgage anywhere near that high. I know the bank says I could afford it, but I have to live paycheck to paycheck.
Originally Posted by PajamaMama I personally would not feel comfortable with a ~400K mortgage on 129K a year. |
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