Dreaming of owning a home in a big city? What about on the West or East coast? It is always important to know your option. Take a look at some of our favorite cities below and the costs of owning a home there!

The West Coast

The west coast is more expensive when it comes to home owning. With beautiful weather, high-paying jobs and coastal living comes higher housing costs. Almost everyone wants to live in a west coast city, but can you afford it? Here are some numbers:

City                   Salary Needed       Median Home Price      

San Francisco     $152,173                       $835,400

San Diego           $108,654                    $589,300

Los Angeles        $100,147                       $536,700

Portland              $69,786                         $358,500

Seattle                 $81,774                         $422,100

The average salary needed for these west coast cities is $102,506 with an average median home price of $548,400.

The Eastern Cities

The eastern cities can be cheaper compared to the west coast. The prices fluctuate quite a bit in the east depending on how far north or south you are, job abundance and population.  Take a look at the numbers:

City                    Salary Needed       Median Home Price

Boston                             $86,054                        $435,300

New York City       $85,488                        $397,600

Cleveland               $34,185                        $138,900

Pittsburgh              $31,962                        $140,000

Miami                     $64,879                        $315,000

Orlando                  $49,811                        $229,900

The average salary needed for these eastern cities is $58,729 with an average median home price of $276,116.

Do the Math

Remember, there are more expenses than just your monthly house payment. Having enough funds to live in these cities does not mean it’s the right decision for you.  Make sure you will have excess money to maintain a healthy lifestyle and manage your other bills.

Not a big city person? The suburbs surrounding these cities can also be the perfect place to own a home – so don’t count them out!

No matter what city is your destination, the Housing Buzz team can help! Contact us today!

 

http://money.cnn.com/infographic/real_estate/what-you-need-to-earn-to-afford-a-home/