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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:
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.