Posted on Jan 11, 2017
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Interesting stats.
Map reveals minimum hourly income needed to afford a 2-bedroom home in every state
Posted from americangg.net
Living
Home
Finance
United States
Posted >1 y ago
Responses: 9
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what ever happened to getting an apartment to start with and working your way up... and from the apartment to a small starter Home to build up equity and credit stability and then moving up and out... what shocks the crap out of me is the amount of Kids getting out of collage and getting New Homes and paying $400K + on them...
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That is an interesting concept TSgt Joe C..
After I read the accompanying article I learned that this is aprojected minimum hourly-wage for renting NOT buying a two-bedroom home.
"The map below shows the average minimum hourly wage required by someone working at least 40 hours a week to rent a 2-bedroom home or apartment without spending more than 30% of their income."
Read more at http://americangg.net/tb-min-hourly-income-map/#e2Sgi091eHHuf6dR.99
In my state of Virginia we have Affordable Dwelling Unit programs, set up by county, which each builder sets aside so that first time buyers can buy home well below the value of the home. I expect other states have similar programs.
Those programs and other programs would be exceptions-to-the rule of the numbers of some states on this map.
LTC Stephen C. Maj William W. 'Bill' Price Capt Christopher Mueller Capt Seid Waddell CW5 (Join to see) SMSgt Minister Gerald A. Thomas SGM David W. Carr LOM, DMSM MP SGT SFC Joe S. Davis Jr., MSM, DSL SSG James J. Palmer IV aka "JP4" SSgt (Join to see) SGT (Join to see) SP5 Mark Kuzinski SGT Forrest Stewart SGT John " Mac " McConnell SGT Robert George SPC (Join to see) SrA Christopher Wright Kim Bolen RN CCM ACM
After I read the accompanying article I learned that this is aprojected minimum hourly-wage for renting NOT buying a two-bedroom home.
"The map below shows the average minimum hourly wage required by someone working at least 40 hours a week to rent a 2-bedroom home or apartment without spending more than 30% of their income."
Read more at http://americangg.net/tb-min-hourly-income-map/#e2Sgi091eHHuf6dR.99
In my state of Virginia we have Affordable Dwelling Unit programs, set up by county, which each builder sets aside so that first time buyers can buy home well below the value of the home. I expect other states have similar programs.
Those programs and other programs would be exceptions-to-the rule of the numbers of some states on this map.
LTC Stephen C. Maj William W. 'Bill' Price Capt Christopher Mueller Capt Seid Waddell CW5 (Join to see) SMSgt Minister Gerald A. Thomas SGM David W. Carr LOM, DMSM MP SGT SFC Joe S. Davis Jr., MSM, DSL SSG James J. Palmer IV aka "JP4" SSgt (Join to see) SGT (Join to see) SP5 Mark Kuzinski SGT Forrest Stewart SGT John " Mac " McConnell SGT Robert George SPC (Join to see) SrA Christopher Wright Kim Bolen RN CCM ACM
Map reveals minimum hourly income needed to afford a 2-bedroom home in every state
Owning your own home was the cornerstone of success in this country and the foundation for what many consider a 'normal' life. The challenge of making that dream a reality in 2016 depends largely on where you live.
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Good map of cost of living by state - makes me feel even better about living in KY.
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