How Muc Do You Need to Afford A House in Your Area?
- Written by Admin TOA
- Published in How to Invest in the U.S.
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How much salary do you need to earn in order to afford the principal, interest, tax and insurance payments on a median-priced home in your metro area?
For our calculations, HSH.com uses the National Association of Realtors’ 2017 first-quarter data for median-home prices, national mortgage rate data derived from weekly surveys by Freddie Mac and the Mortgage Bankers Association of America for 30-year fixed rate mortgages and available property tax and homeowners insurance costs to determine the annual salary it takes to afford the base cost of owning a home (principal, interest, property tax and homeowner's insurance, or PITI) in the nation's 27 largest metropolitan areas.
Author | Kevin Aizenshtat -
Last modified onSaturday, 29 July 2017 20:51
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