Want to own an average home in Seattle? ….better make $73k a year!
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.
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