(via The Home Buying Map)
“a 3D map above that shows how much you must earn to buy a home in 27 major U.S. metros. The higher the cone rising out of the map, the greater the salary needed to buy a home. Additionally, we have highlighted the metro areas from green to red to represent the median home price. Darker green represents lower median home prices and darker red represents higher median home prices. Of the 27 metro areas we looked at, the range of salaries needed to own a home varies from $31,134 to $147,996, which is a difference of over $100,000! Do you earn enough to own a home in your metro area?
Based on the data of 27 metro areas, below is a breakdown of the top 5 metros that require the highest salaries and the bottom 5 metros that require the lowest salaries to purchase a house.”
“One study that can help untangle this was put together by the Economic Innovation Group. It combines rates of education, poverty, and unemployment with more esoteric measures, like how far an area’s median income diverges from its state’s median. Here’s a map of their findings, with red indicating the most distressed areas and green the least.”
This isn’t good..people who need affordable housing also pay the most when it comes to rent as a share of income. Smh #housing #affordablehousing #data
Growth in high-tech manufacturing in the Bay Area, for instance, might not translate into the same level of labour demand as growth in the health care sector in Texas.