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This Is the Salary You Need to Afford the Average Home in Your State

"You really want to be mindful that you’re not crossing that threshold of payments that are just going to crush your income.

This Is How Much You Need to Make to Afford the Average Home in Each State. For instance, New York state’s average here is $91,720 but that’s probably far below what you’ll need in New York City and much higher than you’ll find outside of the state’s larger cities. Additionally, homeowners could certainly spend more than 30% of their gross income on a home.

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That figure is just a little less than the average household income (k). FHA and Community Seconds help lower income families afford homes.. If you have the cash, you may want to up your down payment to 10 or 20 percent.. and you can search for homebuyer assistance programs from state and.

The salary you need to afford the average home in your state (Based on a 30-year mortgage with a 10% down payment). top 5 Places Where You Need the Lowest Salaries to Afford the Average Home 1. West.

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 · Out of the top five places where you’d require the lowest salary to afford your state’s average home, three Southern states made the list: West Virginia came in first place as the lowest salary in the country, with a minimum salary requirement of $38,320 for a house worth $149,500; Arkansas came in fourth with a minimum salary requirement of $41,040.

Using this rule as our benchmark, we calculated the minimum salary required to afford the average home in each state. Top Five Places Where You Need the Highest Salaries to Afford the Average home. 1. hawaii: 3,520 for a house worth $610,000. 2. Washington, DC: $138,440 for a house worth 9,000. 3. California: $120,120 for a house worth $499,900. 4.

Using this rule as our benchmark, we calculated the minimum salary required to afford the average home in each state.

GoBankingRates recently revealed the salary renters need to afford rent for a median-priced, single-family home in every US state. In some states, renters need to earn as much as $100,000.

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So tailor the information you find to your own position. If you discover that the average salary for a paralegal at a midsize. with a disapproval rating of 50% in his home state "This is about.