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How Much Do You Need to Make to Buy a Home in Your State?

It’s no mystery that cost of living varies drastically depending on where you live, so a new study by GOBankingRates set out to find out what minimum salary you would need to make in order to buy a median-priced home in each of the 50 states, and Washington, D.C.

States in the Midwest came out on top as most affordable, requiring the smallest salaries in order to buy a median-priced home. States with large metropolitan areas saw a bump in the average salary needed to buy with California, Washington, D.C., and Hawaii edging out all others with the highest salaries required.

Below is a map with the full results of the study:

How Much Do You Need to Make to Buy a Home in Your State? | MyKCM

GoBankingRates gave this advice to anyone considering a home purchase,

“Before you buy a home, it’s important to find out if you can afford the monthly mortgage payment. To do this, some financial experts recommend your housing costs — primarily your mortgage payments — shouldn’t consume more than 30 percent of your monthly income.”

As we recently reported, research from Zillow shows that historically, Americans had spent 21% of their income on owning a median-priced home. The latest data from the fourth quarter of 2017 shows that the percentage of income needed today is only 15.7%!

Bottom Line

If you are considering buying a home, whether it’s your first time or your fifth time, let’s get together to evaluate your ability to do so in today’s market!

Get the info that you want - right now!

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About Area

Blairsville, Georgia is a small mountain town located in the beautiful Blue Ridge Mountains. Widely known for being one of the most desirable destinations for outdoor adventurers, people come to Blairsville for mountain biking, hiking, fishing or just to marvel at the perfect beauty of nature. A large portion of the area is in the Chattahoochee National Forest, and therefore, will remain untouched and naturally serene and beautiful. In 1942 Lake Nottely was created by the Tennessee Valley Authority for power production. The resulting 4,180 acre lake today is a source of Summer fun, with boating, fishing and swimming abundant, and the river that feeds the lake offers some of the best trout fishing in the state. Vogel State Park, located just outside of town, is centered around Trahlyta Lake and Trahlyta Falls. With rustic cabins on site, and primitive camp sites, you can stay for days or weeks and enjoy swimming, paddle boating and fishing in the lake, hike to the falls, or even play putt-putt. Just beyond Vogel State Park are several more waterfalls with hiking trails and areas to camp, fish, or play in the creek. In addition to all of the majestic waterways running through the valleys, the highest elevation in the state of Georgia is in Blairsville, on top of Brasstown Bald Mountain. Here, you can hike up to the visitor’s center (or take a shuttle) where you have a 360⁰ view, and can see four different states on a clear day, have a picnic, visit the gift shop, and if you’re feeling adventurous, take one of the longer hiking trails, one of which leads to the Appalachian Trail. You won’t be surrounded by department stores or chain restaurants in Blairsville, but you can find handcrafted, original creations in the small shops, or if you visit the Farmer’s Market or one of the many festivals throughout the year. This is certainly a beautiful and unique town worth seeing, perhaps you’ll even want to stay, and if that’s the case, contact your Century 21 Scenic Realty. We are always here for you!

Featured Properties

60 DEER SPRING LN,
BLAIRSVILLE

  • 3 Bathrooms
  • 4 Bedrooms
  • $ 249900

2938 TOWN CREEK SCHOOL,
Blairsville

  • 4 Bathrooms
  • 5 Bedrooms
  • $ 599900

45 GOLDFISH LANE,
Blairsville

  • 2 Bathrooms
  • 3 Bedrooms
  • $ 430000

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