S/O - Your area

[BlsdMama]

It was shocking for me to come from a small mid-west town and see what the cost of living was on the PNW.

 

We rented an acreage with an admittedly small house for $650/mo in Iowa before we moved here. Granted, that was modest rent for the area.

 

When we moved we paid $1795/mo for an acreage with an admittedly UNmodest house in PNW. But I don't believe our rent was even covering the owner's payments.

 

Housing out here is crazy.

Gas is more expensive.

Food is more expensive.

Utilities are less due to a lack of weather extremes.

 

However, the numbers tell the story better than I can.

 

IF you're curious you can go here and plug in your zip code:

 

http://www.city-data.com/

 

You'll see something like this:

 

My Iowa stats:

Average House Value:133,380

Average Salary: $35,950

Average Household Income: $54,780

 

My Oregon stats:

Average House Value: approx $299,900

Average Salary: $35,800

Average Household Income: $56,400

 

 

LOOK at that difference! Now, the average salary is the same, actually slightly higher in the midwest. So, now imagine a blue collar worker on one income paying $135,000 for a house or $290,000 for a house. And, he'll pay slightly more for EVERY food item, except fish in my experience ;), and gas to commute as well.

 

You just can't compare cost of living expenses and have a reasonable discussion on a board where the members are from everywhere.

 

I had a huge shock as to what people out here pay for housing and well, everything. I won't even begin to tell you about my learning about the homeless experience. We just didn't SEE it to this degree in the Midwest... My sister and mother and father visit and they shrug it off as laziness. I get that. I thought that too. Until I noticed something funny here... Clean, nice middle aged men are pumping my gas. You never see help wanted posters in the gas station, the fast food joints, etc.... There aren't jobs here. We thought things were tighter in the midwest? We had no idea 'til we moved out here.

[nono]

I worked for a PNW company that gave us in NYC a 15% uplift on salary. For a 50%+ differential in COL. ;) So even within the same company, the net was vastly different. Your point is well-taken. :)

[Jean in Newcastle]

Yes, it is expensive out here. I always laugh and cringe at the same time when I see people saying I spend only $xxx on groceries a month! Even with coupons and rice and beans, groceries cost so much more here.

[creekland]

There's a lot of info on that site!

 

For my zip code we're 100% rural...

 

median house price for sales last year was 140,000

average salary for 2004 was 42,700

 

I consider food reasonably priced.

 

But I know where we live we have a nice COL. I can't imagine living in higher priced areas near us - esp with the same income (though admittedly, engineers make more $$ in higher COL areas than hubby makes here).

[Farrar]

Average house value is over half a million here. Interesting site.

 

These conversations about costs also drive me crazy for the same reason. People who live in the Midwest and South trying to say you can do such and such on less is a bit insulting to those of us who live in pricey areas.

[DianeW88]

My Utah stats:

Average house value: $225,400

Average salary: $37,229

Average household income: $62,701

 

The cost of living here in Utah is lower than the national average. COL index says we are at 86.9. National average is 100. We live well here.

[BlsdMama]

Average house value is over half a million here. Interesting site.

 

These conversations about costs also drive me crazy for the same reason. People who live in the Midwest and South trying to say you can do such and such on less is a bit insulting to those of us who live in pricey areas.

 

I WAS this person a few years ago... My very simple answer was, "Don't live in a $200,000 house if you can't afford a $200,000 house."

 

I didn't realize that a $200,000 house out here wasn't a great house in a really nice part of town with a yard and a picket fence. :D

[momma2three]

I WAS this person a few years ago... My very simple answer was, "Don't live in a $200,000 house if you can't afford a $200,000 house."

 

I didn't realize that a $200,000 house out here wasn't a great house in a really nice part of town with a yard and a picket fence. :D

 

You couldn't even find a $200,000 house in my town if you tried. A 1/4 of an acre without a house on it costs more than that.

 

Interesting site. The median price of a house here looks to be a smudge above $600k. And I don't even live in one the fanciest/richest towns in the area. Just the median property taxes here are over $4,000 per year.

[Amy in NH]

I didn't find average stats on my city-data report. They were listed as median household income. Hard to compare that way.

 

COL index is 100.6, though.

[EKS]

We moved to the Seattle area from southern CA and had the opposite experience. In fact, our modest regular poorly built tract house down there on 1/5 of an acre is worth about as much as our much bigger well built house on several acres here.

[Joker]

There was a lot on there. In my area it said average home price was just under $300K and average household income was $82K.

[Stacy in NJ]

I WAS this person a few years ago... My very simple answer was, "Don't live in a $200,000 house if you can't afford a $200,000 house."

 

I didn't realize that a $200,000 house out here wasn't a great house in a really nice part of town with a yard and a picket fence. :D

 

There are no $200,000 houses where I live. The emply lot the house may sit on is worth more - maybe $350,000.

 

There maybe a tiny, crappy one bedroom apartment in a horrible building in a bad neighborhood worth $200,000.

 

Now, let's consider property taxes: Jersey has the highest property taxes in the nation. Depending on your city and county (obviously), a modest home (3 bedroom/2 baths) worth $500,000 will be taxed around $12,000 - $15,000 in annual taxes.

 

This is why I lol when people discuss taxing "millionaires" (or people who earn $250,000 yearly according to the president). $250,000 in annual income will purchase you a middle class lifestyle in the NE. Millionaire? I don't think so.

 

ETA: for my zip code:

Median house/condo value: $587,741

Median detached house value (exluding apartments/condos): $706,168

Estimated household income: $119,639

Median real estate property taxes paid for all housing units (including apartments/condos): $8,289

Edited April 11, 2012 by Stacy in NJ

[FaithManor]

Average house value is over half a million here. Interesting site.

 

These conversations about costs also drive me crazy for the same reason. People who live in the Midwest and South trying to say you can do such and such on less is a bit insulting to those of us who live in pricey areas.

 

 

I understand your angst. I live in Michigan, the stench of the armpit of the economic stain, and in one of the lowest income counties in the lower peninsula with one of the highest unemployment rates, and even with very low cost of living in comparison to many, many areas of the U.S., we still see a lot of homelessness, or at least two or three families under one roof and barely making it, parents with children living in pop-up campers even in the winter, slumlording, etc. Food costs are very reasonable here, but given what I see, I can not IMAGINE how bad it has to be elsewhere. While we may occasionally meet a truly lazy individual and they do exist, they are so NOT common. Instead we meet hardworking, would take any work for any pay just to make something, people whose unemployment has run out and they don't live near family, don't have any money to move to family and their extended family is barely surviving too so it isn't as though they can send them $1000.00 to move to the land of X where employment might be better, etc. Heating costs here are brutal. So many low income housing options are on fuel oil at well over $3.00 per gallon and costing $350.00 - $500.00 a month just to heat a few rooms. Welfare rules in Michigan are really stupid. In many cases, social workers have to tell women that they can only apply for housing, heating, electricity, etc. assistance if they divorce their husbands! If they are legally married to a non-disabled man, then they don't qualify. I'm not joking! I know four women this year that were told to divorce their unemployed husbands - guys who are desperately looking for work and can't find anything - and then come back.

 

When I see this stuff going on around me, I feel like we are fast heading back to serfdom...the Lords own all the land and the populace slaves away for them in return for the most meagre, barely survivable existence.

 

That said, I do think many people are very unaware of how bad things can be for others. If you have enough income to be comfortable for the COL of your area and in particular a low, low COL, then if one is not really keeping one's eyes open or volunteering for organizations that are trying to provide assistance, then it's easy to assume that poverty is a choice or that a very, very low paying job could provide for a family when in fact, it cannot and certainly not in any mid-range or higher COL areas.

 

I try not to make assumptions that others can live on what my neighbors live on every where in America. It's not doable. But, then I do volunteer for our church's clothing pantry and help twice per year delivering groceries and help field applications for our church deacon's fund which helps provide heating assistance. So, I personally encounter grown men crying because they've been searching for work for three years, living in a pop-up camper with their family having made lean-tos of abandoned boards over holes in the ground for bathrooms, hauing water from local gas stations to cook and clean up with, asking to do yard work for the church so they can use the showers in our gymnasium - we routinely allow this because so many will come right before a job interview and be desperate to have the first real shower they've had in months - etc. and I don't live anywhere near Detroit where it's got be even worse than this for some people.

 

Faith

[Crimson Wife]

These conversations about costs also drive me crazy for the same reason. People who live in the Midwest and South trying to say you can do such and such on less is a bit insulting to those of us who live in pricey areas.

 

Seriously, the "you're just not being frugal" attitude from folks who live in areas where housing is dirt-cheap absolutely infuriates me. :cursing:

 

The median income for a family of 4 in the U.S. was $74,985 as of October 2011 according to the Federal Register. Using this cost-of-living calculator, a person making $37,057 in Louisville, KY has the same equivalent purchasing power, while it would take someone living in my neck of the woods $138,722. I'm not picking on Louisville specifically, I chose it because it's somewhere I know from personal experience to be cheap.

[MrsBear]

My Missouri stats:

Average House Value: $133,505

Average Salary: $31,449

Average Household Income: $44,116

 

My NoVA stats:

Average House Value: $607,458

Average Salary: $72,692

Average Household Income: $131,350

 

The NoVA stat for housing is actually lower than when we moved to MO - back in 2006, the average home price was about $750,000. Interstingly, the average home price in MO is up from when we moved here - back in 2006, it was (if I remember correctly) $128,000, so just up slightly.

 

The COL is very different in MO; some things, for some reason, are more expensive (like meat), others are much lower (like gas). Overall, the COL is significantly less here than in NoVA.

[MrsBear]

Seriously, the "you're just not being frugal" attitude from folks who live in areas where housing is dirt-cheap absolutely infuriates me. :cursing:

 

The median income for a family of 4 in the U.S. was $74,985 as of October 2011 according to the Federal Register. Using this cost-of-living calculator, a person making $37,057 in Louisville, KY has the same equivalent purchasing power, while it would take someone living in my neck of the woods $138,722. I'm not picking on Louisville specifically, I chose it because it's somewhere I know from personal experience to be cheap.

 

Except that some of us have lived quite nicely in a very high COL areas on very little when compared to the average salary for the area. We moved from NoVA after living there for years with DH making significantly less than the average salary for the area, and less than half the average household income.

[mommymilkies]

We had that experience after moving up by Chicago. We promptly moved back down to the boonies. My dh had a fairly prestigious job and we couldn't afford a peed on cardboard box in that town. Down here it is SO much cheaper. I would love to move out west, but I know there's no way we could afford a decent quality of life.

[Tarreymere]

Glad I live where I do!

[Carrie12345]

Definitely an interesting site!

My zipcode isn't exactly a perfect representation of "my area" (I actually don't live in my zipcode, lol. Drives the census people crazy. And our local government is by township, encompassing multiple towns and villages,) but it sure does scare me with its population stats.

 

In 2000, our population was 4,429. Mid-decade, we had continued growth (Coincidentally, that's when we moved here) so the population was definitely higher. In 2010, our population was 3,518. Based on the drop in our regional school enrollment this year (which is nowhere near the small growth in registered homeschoolers or cyber schoolers), I'm certain the population has decreased even further. It's probably safe to assume we're 25% smaller than we were just over a decade ago... after working on infrastructure to accommodate the earlier growth, which was at its height in the 90s.

 

Anyway, the 2010 median home value is listed at $176,560 and median individual income is listed at $38,522, household at $54,874.

 

I don't believe the home value is anywhere near that today. Foreclosures are driving down everyone's value. My 3bd2ba on 1+acres is hovering on the six-figure line, according to Zillow. A mile down the road, a 3 year old 3bd/2ba house on 1/3acre is listed at 69k.

[gardenmom5]

yep. welcome to the northwest.

 

When I was dropping 1dd off at college in upstate NY - I *really* wanted to take a picture of a sign advertising new homes "starting at $100K". at the time - that was the price of just the dirt here.

 

but we do have a very temperate climate - there are also the mountains and ocean all within a mere few hours drive.

 

eta:

Jan. 2011 cost of living index : 114.7

median house/condo value in 2010. (okay, that's median, not average)

zip: $465,907

state:$287,300

median Salary/wage:

zip: $75,547

State:$45,761

median household income in 2010:

zip:$79,519

state: $56,911

 

my zip is very diverse - it includes light industry, and most of the residential is considered very much "middle income", though we also have government subsidized apartments.

 

eta: found the one for detached houses NOT including condos.

 

Mean price in 2010:

Detached houses: $762,100

Here:$762,100

State: $368,330

Edited April 11, 2012 by gardenmom5

[MomtoCandJ]

Tawas City MI

home value: 110,992 - there are a lot of homes on the water (Lake Heron and smaller in land lakes)

Salary 30,711

income 37740

Fitzgerald GA

home value 77,067

salary 28691

income 34676

[Element]

It was shocking for me to come from a small mid-west town and see what the cost of living was on the PNW.

 

...

You just can't compare cost of living expenses and have a reasonable discussion on a board where the members are from everywhere.

 

ITA with this.

Edited April 12, 2012 by Element

[eternalknot]

Our COL is 96.3 as of 1/2011.

 

All I could find were stats from 2005:

 

My zip code:

Average salary: $155,957

Average household income: $171,954

Median house value: $360,747

 

For my state overall:

Average salary: $41,947

Average household income: $47,881

Median house value: $127,400

[momto2Cs]

Our COL as of 1/2011 was 142.4, "very high"

 

The stats below are from 2005

 

My zip code:

Average salary: $35,499

Average household income: $57,438

Median house value: $351,081

 

For my state overall (CA):

Average salary: $49,455

Average household income: $60,016

Median house value: $405,800

Edited April 11, 2012 by momto2Cs

[Farrar]

Except that some of us have lived quite nicely in a very high COL areas on very little when compared to the average salary for the area. We moved from NoVA after living there for years with DH making significantly less than the average salary for the area, and less than half the average household income.

 

I'm not saying there's no way to save money... You can always live on less than the median and the vast majority of people can live on less than they do now. I know we could. But there's less and there's less. There's no way I could manage to live on as little as I could if I lived in the small Georgia town where my grandmother lives.

 

There are definitely still $200,000 homes here - you just have to be willing to compromise what sort of neighborhood... and sometimes a lot of that isn't the crime, it's the school options. Dh and I always knew we would homeschool, so 10 years ago, we didn't hesitate to buy right in the city.

[Pamela H in Texas]

I live in the south. Supposedly it is dirt cheap here.

I have no clue how we would even survive anywhere else if that is the case.

I'd guess we'd make more money but that may not really be true.

Regardless, we've made our choices.

Edited April 11, 2012 by 2J5M9K

[thescrappyhomeschooler]

For my zip code:

 

Median household income 2009: $66,884

Mean price all housing units 2009: $331,623

Median gross rent 2009: $1,265

 

You can find much more reasonable housing and rent prices not far from here, though.

 

Cost of living in my area is 101.3 (near average, U.S. average is 100), according to that site you linked.

[Tap]

Tawas City MI

home value: 110,992 - there are a lot of homes on the water (Lake Heron and smaller in land lakes)

Salary 30,711

income 37740

Fitzgerald GA

home value 77,067

salary 28691

income 34676

 

 

LOL I make just a bit below that working 1/2-3/4 time to pay for my kids extras like sports, tuition and classes. (on top of my husbands career) LOL ----and we live fairly Frugal compared to our friends!

 

Yep, the PNW is not a cheap place to dwell! I don't think you can buy a 6000sqft dirt lot here for under $100,000 let alone one with a structure.

Edited April 11, 2012 by Tap, tap, tap

[Julie in CA]

Interesting website.

I would never have guessed that we have a low COL here: 87.8

It doesn't feel low. :001_huh:

 

Another interesting stat for my area is an unemployment rate of 18.6%.

[MomtoCandJ]

In Fitzgerald, it's a lot of low paying jobs and not so great housing. Dh and I had rented a place in town before dd was born, that had no heat, no appliances, most of the outlets didn't work, mushrooms grew out of the bathroom floor, bums slept on the porch (thank goodness my dh is an avid hunter, an unloaded gun works wonders on getting bums to stay off the porch), wild chickens crowed on the non-functioning air conditioner at 4 am (loaded said gun and blew them off, was afraid to even attempt to eat one though), dh has help up walking to the store that was a block from us... the list could go on about how horrible that place was. we only stayed there for a few months before we found something much better.(As in all outlets worked, no mushrooms, heat, bums or chickens on the air conditioner)

Edited April 11, 2012 by melissamathews

[MeaganS]

Fayetteville, AR (where we're moving in a few months)

 

COL: 84.7

 

We're going to be able to rent a cute little starter 3/2 house, built in probably the last 10 years or so for $900/month or less.

 

I love Northwest Arkansas!

[vonfirmath]

I owned a 550-sq ft condo in the heart of Bellevue for several years. Both when single and when I first married my husband. After looking at options, my payment this way was cheaper than I could rent and the area was excellent.

 

Later, we sold the condo because we wanted to be more flexible and were able to get a 2b/2ba apartment in Newcastle (so a little farther out, but still a nice area. I walked to our grocery store regularly. No fear. Good schools still) for just under $1000/mo. We had DS there. Our rent here in Austin is in the same range though I am making significantly less. I do think we can buy a bigger house for less here when we are ready for that. But the rents seem to be the same.

[I talk to the trees]

Another factor is taxes. Our average house prices are quite low, but taxes are quite high.

 

Tell me about it! In our county, it looks like the average real estate/property taxes are twice the state average. *ouch*

 

I need to not look at sites like City-Data. It's just depressing!

[MistyMountain]

Median House Value 266,463

Adjusted Gross Income 52,318

Salary 49,143

 

Cost of Living index 132

[Ali in OR]

PNW is a lot cheaper than the bay area of CA. We relocated almost 20 years ago because it looked like we would never own a home on an engineer's and teacher's salary. The shack across the street from our apartment complex was listed at $492,000 (20 years ago) and we just laughed. At least here we could buy a house and live off one income. Impossible in the bay area unless you have amazing stock options or an executive salary.

[Mama Geek]

I have lived in various places in the US. One thing that I have noticed is COL and quality of life aren't the same thing either. You can live in a low COL are and have a horrible quality of life or you can live in a high COL area and have a great quality of life.

[MeaganS]

I have lived in various places in the US. One thing that I have noticed is COL and quality of life aren't the same thing either. You can live in a low COL are and have a horrible quality of life or you can live in a high COL area and have a great quality of life.

 

Or the other way around too! But that is definitely a factor.

[SKL]

I live in the Midwest. When I was single and childless, I was making a good salary, but in order to advance, I was told I'd have to move to DC or Chicago. HA HA! No thank you. My house (which we bought for $150K) would cost over $1M there, and forget having a forest in the backyard!

 

Around the same time, I dated a guy who wanted me to relocate with him to LA. HA HA! I told him my issue with the cost of housing and he found a couple of houses online for "only" $350K. They were the size of a mobile home, if that. Oh goody, a one-car garage! And while my company would have paid me a wage differential to move there, it would have been nowhere near the change in COL.

 

I still can't figure out how people have the guts to make a move like that. I mean, there is no job security in this country. Here in the Midwest, we paid off our house rather quickly and now have no house payment. While on a traditional payroll, I was able to pay off all my bills and save up my future kids' education fund. (I did live frugally to make this happen.) I have savings to tide me over for a while, assuming the dollar continues to have value. It makes a big difference in quality of life to not have to worry about feeding my kids and keeping them housed. I certainly remember my lean, insecure years and I think that's why I'm risk-averse. I'd rather make a fraction of my ex-salary than move to an expensive city.

[heart'sjoy]

DH have discussed this. Moving to a higher COL = a pay cut for us and a significant one as our COL is less than 76.

 

I there a way to calculate how much you need to make to maintain your standard of living when moving to an area with a different COL?

[*lifeoftheparty*]

I have used this site before :) We check it whenever we move.

 

My zip code, and all the stats are from 2010, say:

 

 

Estimated Home Value: $358,653

Estimated median household income: $92,939

 

 

I agree with a PP though. It may be expensive up here, but to us, it's worth it.

 

My mom and sisters live in Northeast Georgia and COL there is so low. My mom bought her brand new house on a large lot for $95,000!!!! It's CRAZY!! But the restaurants there are mostly fast food and chains, there are no healthy grocery stores (just Wal-Mart and Kroger), and in general, healthy eating there is almost impossible. It makes 20-40 minutes to get ANYWHERE. There is little to no diversity and the people there are some of the most racist people I have EVER met, despite the fact that they are all "Christian". Sure there is lots of clean air and pretty lakes, but EVERY TIME we go somewhere to TRY and enjoy that air, there are a MILLION people smoking; usually while holding a small child. :glare:

 

Most of the doctors suck, as do the hospitals. So many people up there die from medical mistakes, it's ridiculous. The good ole' boy system runs the show. The playgrounds are few and far between, and again, just full of smokers.

 

I HATE going there to visit and every time I do, I spend most of the time saying, "HOW can you LIVE like this?" I count the days until I can get back home to the land of civilization, LOL!!

[DawnM]

Where we moved FROM in CA:

 

(I have rounded to the nearest whole number)

 

Median household income: $62,000

Median House or condo: $620,000

Median rent: $1,250

 

Where we live NOW in NC:

 

Median household income: $152,000

Median house or condo: $560,000

Median rent: $2,000

 

This is just for the towns/cities I moved from and to, this is not the greater metropolis area.

 

Dawn

[MrsBear]

I live in the Midwest. When I was single and childless, I was making a good salary, but in order to advance, I was told I'd have to move to DC or Chicago. HA HA! No thank you. My house (which we bought for $150K) would cost over $1M there, and forget having a forest in the backyard!

 

Around the same time, I dated a guy who wanted me to relocate with him to LA. HA HA! I told him my issue with the cost of housing and he found a couple of houses online for "only" $350K. They were the size of a mobile home, if that. Oh goody, a one-car garage! And while my company would have paid me a wage differential to move there, it would have been nowhere near the change in COL.

 

I still can't figure out how people have the guts to make a move like that. I mean, there is no job security in this country. Here in the Midwest, we paid off our house rather quickly and now have no house payment. While on a traditional payroll, I was able to pay off all my bills and save up my future kids' education fund. (I did live frugally to make this happen.) I have savings to tide me over for a while, assuming the dollar continues to have value. It makes a big difference in quality of life to not have to worry about feeding my kids and keeping them housed. I certainly remember my lean, insecure years and I think that's why I'm risk-averse. I'd rather make a fraction of my ex-salary than move to an expensive city.

 

We moved to the midwest because we realized staying on the east coast wasn't going to allow us to get ahead in the longer term. Family and friends thought we were nuts, until they've come to visit and see how nice the area is and how much the COL here has some great benefits!

[MrsBear]

DH have discussed this. Moving to a higher COL = a pay cut for us and a significant one as our COL is less than 76.

 

I there a way to calculate how much you need to make to maintain your standard of living when moving to an area with a different COL?

 

Cost of Living Calculator

 

Based on it' date=' DH would need to make twice as much for the same standard of living here in MO if we decided to move back to the DC-Metro area.

 

ETA: this one lets you put in exact city and state for comparison

Edited April 11, 2012 by MrsBear

[DawnM]

We bought our first house in LA County for $142,000 in the year 1998.

 

I really wish we had kept it. We made good money and that was a great deal, even back then.

 

Our house was in the foothills of Altadena and behind us was pure mountain and to one side was the LA washbasin, so nothing could be built there. It was very quiet and private.

 

It was 1400 sq. ft. but had plenty of room to add on.

 

Dawn

 

I live in the Midwest. When I was single and childless, I was making a good salary, but in order to advance, I was told I'd have to move to DC or Chicago. HA HA! No thank you. My house (which we bought for $150K) would cost over $1M there, and forget having a forest in the backyard!

 

Around the same time, I dated a guy who wanted me to relocate with him to LA. HA HA! I told him my issue with the cost of housing and he found a couple of houses online for "only" $350K. They were the size of a mobile home, if that. Oh goody, a one-car garage! And while my company would have paid me a wage differential to move there, it would have been nowhere near the change in COL.

 

I still can't figure out how people have the guts to make a move like that. I mean, there is no job security in this country. Here in the Midwest, we paid off our house rather quickly and now have no house payment. While on a traditional payroll, I was able to pay off all my bills and save up my future kids' education fund. (I did live frugally to make this happen.) I have savings to tide me over for a while, assuming the dollar continues to have value. It makes a big difference in quality of life to not have to worry about feeding my kids and keeping them housed. I certainly remember my lean, insecure years and I think that's why I'm risk-averse. I'd rather make a fraction of my ex-salary than move to an expensive city.

[Crimson Wife]

Except that some of us have lived quite nicely in a very high COL areas on very little when compared to the average salary for the area. We moved from NoVA after living there for years with DH making significantly less than the average salary for the area, and less than half the average household income.

 

Were you lucky enough to purchase a home prior to the run-up in real estate prices? If we had been in a position to buy our home in 1999 instead of being 22 and 23 yr. old recent college graduates, we would've paid less than half of the current market value (and that's even AFTER the post-2007 decline).

 

Could you still afford to buy the house you lived in at current market value on the same salary?

[MrsBear]

Were you lucky enough to purchase a home prior to the run-up in real estate prices? If we had been in a position to buy our home in 1999 instead of being 22 and 23 yr. old recent college graduates, we would've paid less than half of the current market value (and that's even AFTER the post-2007 decline).

 

Could you still afford to buy the house you lived in at current market value on the same salary?

 

When we lived in NoVA we couldn't afford to buy a house, we rented. And, we actually moved here at the height of the real estate bubble and purchased at the peak (2006).....fortunately, where we live now, the real estate market hadn't gone as crazy as in NoVA, so we haven't taken a beating on the house we did buy. Relatively speaking, we pay less for our home now, as a percentage of DH's gross, than we did in a rental house in NoVA. We didn't buy what the bank told us we could afford, but what we felt comfortable purchasing, something that was and remains well within our means.

[WeeBeaks]

Ours in California:

Estimated median house/condo value in 2010: $511,164

Median household income: $66,494

 

Yeah, it's hard here. My DH was born here, and all his family is here. We are super lucky to have purchased our house in 1999 or we would be out of luck today for single income to live on. I can't imagine how families do it today.

[Carrie12345]

Cost of Living Calculator

 

Based on it, DH would need to make twice as much for the same standard of living here in MO if we decided to move back to the DC-Metro area.

 

ETA: this one lets you put in exact city and state for comparison

 

That second one is pretty cool. (The first doesn't include areas anywhere near where I am or where I'd rather be, lol.)

 

Now to just find $20k! :tongue_smilie: (And a way to sell my house, pay off our negative equity, have a decent downpayment and closing costs, and actually move...)