Photo: A McLin
Mortgage website HSH.com determined how much a person would have to earn to be able to afford the principal and interest on a median-priced home in various cities around the U.S. Here in Seattle, that number is $73,851.06, the 7th-highest city on the list.
Another recent report said that 53% of Seattle-area homes currently for sale are affordable for people making $69,718/year, which means there would be even less available at this new number. The good news? According to Redfin, the median home sale price of $357K in the Seattle area went up 3.5% from the previous month and 8.2% more from last year. So even if you're not making that median salary, there's a few more house options out there now than before.
· How much do you need to make to buy a Seattle home? [King5]
· 53% of Seattle-Area Homes Affordable To The Middle Class [Curbed Seattle]
· April Housing Market Warms Up [Redfin]