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what is the "middle class" income for your area?

Dancing Fire

Dancing Fire

Super_Ideal_Rock
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when my wife retires she want us to move out of Ca to somewhere less expensive like Oregon.
 
according to the University of Utah the middle class income for the state is approx 40,000 a year
 
I don't know what the average income is but the big draw in SC is affordable housing.
Lots of retirees coming here now.
 
According to the CNN Money website, in 2008 the median family income for my town is just under $140,000. The average home price was $742,000. Come on over, DFire! It has to be cheaper to live here than in CA! :wavey:

(I can't find info on the average family income, though. Only the median.)
 
Well, if you're going by town, the median income in my town is $71,000 and the average home price is $329,000 (though I can tell you that $329k won't buy you more than a townhouse).

However, I'm in one of the poorer cities in one of the richest counties in the country, so you could live in Westport where the average is $191,000 and the average home price is $1.2mil.

So, not sure it's cheaper here than CA.
 
I moved here from CA so I could afford a house. Paid 85K 1800 sq ft 1/3 acre lot.
You can buy a decent house here today for around 100K.
 
Median income for my town is $50,000. The median home price is $443,000. See anything wrong with that picture?!
 
According to the Census Bureau, the median income for my state in 2008 was just over $63K.
 
I just looked up my town (population ~10K). Median HHI is around $120K and median house price is $742K. Apparently this is based on 2008 data.

I had the exact same thought as heraanderson. The median family can't afford the median house! Maybe I should expect a wave of foreclosures soon...
 
NewEnglandLady said:
I just looked up my town (population ~10K). Median HHI is around $120K and median house price is $742K. Apparently this is based on 2008 data.

I had the exact same thought as heraanderson. The median family can't afford the median house! Maybe I should expect a wave of foreclosures soon...
Click to expand...

NEL -- I can't remember what town your new house is in, but you do live in an expensive state. I'm in the state to the north of you, and I'm not sure what the median housing price is.
 
Our town's median hhi is about $180 and median home is about $1.25, needless to say we live in a fairly expensive area.
 
NewEnglandLady said:
I just looked up my town (population ~10K). Median HHI is around $120K and median house price is $742K. Apparently this is based on 2008 data.

I had the exact same thought as heraanderson. The median family can't afford the median house! Maybe I should expect a wave of foreclosures soon...
Click to expand...

Or maybe it's RE boom data from 2005?
 
Alright so I googled the average income for my area and a few sites came up with:

$103,625

And another interesting piece of information I found about my county:

As of 2000, the population was 597,635. A 2004 U.S. Census estimate placed the population at 621,342, making it the fourth most populous county in Pennsylvania (after Philadelphia, Allegheny, and Montgomery counties), and the 95th most populous county in the United States. As of 2000, it is the 76th wealthiest county in the nation as measured by median family income.
 
Zoe, I just quickly looked based on some data from 2006 (so I think it skews a little high) and the median house price was $337K. D and I are headed up there to hike this weekend and D keeps joking that he's on a hunt for our second house, haha.
 
In my town (in California), the median family income is $153,615, and the median home price is $1,180,000.
 
NewEnglandLady said:
I had the exact same thought as heraanderson. The median family can't afford the median house! Maybe I should expect a wave of foreclosures soon...
Click to expand...
I thought the same thing when I saw my town's data. Something doesn't match up, there . . .
 
heraanderson said:
Median income for my town is $50,000. The median home price is $443,000. See anything wrong with that picture?!
Click to expand...

Yes, I see what is wrong with the picture. Do people just not buy homes?
The town I live in has a median income of 88k and a median home price of 375k.
 
NewEnglandLady said:
Zoe, I just quickly looked based on some data from 2006 (so I think it skews a little high) and the median house price was $337K. D and I are headed up there to hike this weekend and D keeps joking that he's on a hunt for our second house, haha.
Click to expand...

Thanks for checking! Have fun hiking!
 
Median income in my part of my city is $36,319. Median home price is $548,010. In this area, most people rent.
 
$62k for my county...housing is about $225k.
 
Ok so I had to google it because I have no idea...median household income in 2008 is $50,841 the median house cost $126,822, guess i live in a cheap town lol
 
heraanderson said:
Median income for my town is $50,000. The median home price is $443,000. See anything wrong with that picture?!
Click to expand...
:shock:
 
Haven said:
According to the CNN Money website, in 2008 the median family income for my town is just under $140,000. The average home price was $742,000. Come on over, DFire! It has to be cheaper to live here than in CA! :wavey:

(I can't find info on the average family income, though. Only the median.)
Click to expand...
Haven...too rich for my blood!! $742K will buy a very nice house in our county.
 
Dancing Fire said:
Haven said:
According to the CNN Money website, in 2008 the median family income for my town is just under $140,000. The average home price was $742,000. Come on over, DFire! It has to be cheaper to live here than in CA! :wavey:
(I can't find info on the average family income, though. Only the median.)
Click to expand...
Haven...too rich for my blood!! $742K will buy a very nice house in our county.
Click to expand...
You can be like us, DFire, and buy a home that brings that average WAY down. Our home cost less than half of that average price, and I LOVE it.
 
Interesting. What would you consider affordable housing (as a multiple of the annual household income)?
 
I just looked it up and Atlanta was around 48k. This surprised me but I suppose its because there is a HUGE range of incomes here, as well as the fact that the metro area encompasses the major suburbs as well, all told about five million people.
 
According to the most recent statistics available online (2006), the median household income was $69,154. and the median house price here was $263,000.
 
I'm another one of the "That income buys THAT house?" camp...

Median income in my neighborhood (not the city, as I live in a metropolitan-ish area) is $48,151. The median house is $285,036. This data is from 2008, though.

These numbers are skewed *or* my neighbors are putting 100% of their paychecks toward their mortgages :eek: DF, you'd probably be above and beyond middle class, but I wouldn't recommend retiring to my neighborhood :wink2: It's good for a young, childless couple's starter home & that's about it.
 
Lady_Disdain said:
Interesting. What would you consider affordable housing (as a multiple of the annual household income)?
Click to expand...

Around 2-1/2 times your annual salary. Apparently in states like my own (California), the number that would be ok would be 4 times the annual income. I don't know who's doing that, though, according to the stats, people are paying much more for their housing. It's sad, but in my area of San Diego, we do get good weather so we count that as part of our sunshine tax :sun: . Eventually, I'll move away from here to get more space and more reasonable housing expenses.
 
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