How a lot do it’s a must to make to purchase a house in any main metropolis?
For those who can afford it, the coronavirus crisis has sparked a shopping spree.
Last year, one in 20 adults moved permanently or temporarily from their place of residence due to a Covid outbreak, according to a recent report from the Pew Research Center.
However, not everyone travels from the city to the suburbs. For example, in the New York metropolitan area, three of the five most popular moving locations were less than 15 miles away from Manhattan. This comes from a separate analysis of the US Postal Service data from Bankrate.com.
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Almost regardless of location, prices are rising given the exploding demand.
This, in turn, has created an affordability problem for many potential buyers even though mortgage rates are close to their lowest ever.
According to a new analysis by Zippia.com, here’s how much you need to earn now to afford a home in the country’s most popular cities.
For most people on the go, hotspots like San Francisco and New York remain inaccessible. On the other hand, Detroit and Akron or Toledo, Ohio are relatively affordable.