Real EstateHousingAmericans say 74,000 a year is the perfect salary. But that would make buying a house affordable in only two statesBy Sydney LakeBy Sydney LakeAssociate EditorSydney LakeAssociate EditorSydney Lake is an associate editor at Fortune, where she writes and edits news for the publication's global news desk.SEE FULL BIO A 74,000 salary will make buying a home affordable in just two states: West Virginia and Louisiana.A 74,000 salary is above the national median and enough to comfortably cover rent in most U.S.
cities, but it still falls short of affording a median-priced home in nearly every state. Monthly mortgage payments often exceed the onethird income threshold, even for households earning nearly double that ideal salary.
Experts say the bigger obstacle isnt just todays mortgage rates, but persistently high home prices fueled by tight inventory and homeowners holding on to their low-rate mortgages. All things considered, 74,000 per year doesnt sound like a bad salary.
Its about 12,000 more than the average salary in the U.S. and enough to afford 1,800 in rent in most major U.S.
*Reporting by Fortune.*
Americans say $74,000 a year is the ‘perfect salary.’ But that would make buying a house affordable in only two states
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