HSH.com recently released an article comparing 27 metropolitan areas and the salary someone would need to earn in order to afford the principal, interest, taxes and insurance payments on a median-priced home. According to pricing data collected by the National Association of Realtors, a single family home in the U.S. will cost you approximately $223,900 as of 2015 median estimates. The median sales price of existing single-family homes in the U.S. has increased steadily since 2013 ($197,400) and 2014 ($208,900). That equates to a 13% increase over two years! Below is a breakdown of the median home prices for 2015 across four U.S. geographical areas:
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Northeast: $262,500
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Midwest: $175,500
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South: $196,400
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West: $319,100
The data shows that the most expensive metros are located in the West while the least expensive metros are in the Midwest. See the map and extended article on http://howmuch.net which is a cost information website.
Written and Published by: VanEd
