If your HHI is less than 100k
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Anonymous
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88k in MoCo.
Own SFH inside the Beltway. Mortgage is $180k. Purchased for $310k in 2009 (foreclosure). PITI is appx. $1900 for 15 years. About to refi for 10-year loan. |
Anonymous
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-68K in DC.
-Own condo in DC. -Mortgage $1000/month, condo fees $300/month. -Second mortgage of $100/month begins in a year. -Not currently paying taxes due to DC tax abatement program, begins in two years. About $100/month. -Purchased in 2008 for $209K. I made 48K then. I would LOVE to refi to a 15y but I can't as part of the program I went through. That said, incredibly blessed. Love where I live. |
Anonymous
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58k in downtown silver spring
rent + all utilities= 1200 came in 2009 making only 44k we feel comfortable, no debt or financial problems. |
Anonymous
Plus non-profits. And dancers, writers, journalists, editors, musicians, teachers, firemen, DC government workers, waitresses (gasp!), librarians, administrative assistants, janitors, retail salespeople. Etc. |
Anonymous
Median household income is $61K in DC. |
Anonymous
Wow, someone is in a bubble. |
Anonymous
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100K last year
(85K when we purchased our house, and 40K a few years ago, DH's salary, I stay home) House in downtown Bethesda, bought 2010: fixer-upper, 50% down and $2700 mortgage. DH took out maximum loan so that we could also pay for renovations to gut the first floor and rebuild. The key here is that we had saved a significant amount to afford a big down-payment. |
Anonymous
that is still a crazy mortgage payment on that salary! |
Anonymous
It is a stone's throw away from the elementary school, restaurants, yoga, martial arts, etc that we frequent. We looked at the overpriced condos, and decided a house was a better long-term investment. I love living here. |
Anonymous
Same here. It's about choices. HHI <$100k in this area means you can't have everything. For us, it means having only one old car, driving vacations and no cable TV. Glad to be where we are: things are tougher back in the area where I grew up: http://www.washingtonpost.com/national/in-new-castle-pa-trying-to-break-free-of-poverty/2012/12/08/f41f20ec-3985-11e2-8a97-363b0f9a0ab3_story.html?tid=pm_national_pop We're blessed, even with our crazy mortgage payment. |
Anonymous
| Agreed, it's choices and circumstances. We make $92k and our mortgage payment is $1900. It's tight. But it's also our choice. We are saving oodles of interest with our 15-year loan and may choose to tighten our belts even further to convert to a 10-year. |
Anonymous
| Thing is, if you're coughing up $2700 a month on a salary of under $100k, how much ability do you really have to enjoy all the amenities nearby? |
Anonymous
Well, I don't have a lot of money but plenty of ability. There are entire books and websites devoted to doing stuff with your family in Washington for free. Besides the obvious (Smithsonian) we have found ways to enjoy lots of things for free like the NSO at the Kennedy Center. This is a great area for families and our calendar is overstuffed. (All that said, I'd like more money and am trying to get a better paying job) |
Anonymous
| We live in N. Bethesda/Bethesda area, HHI of $125k, mortgage & HOA is about $2700. We are extremely lucky that we do not have childcare cost, vehicles payments or any other major expense. We are only having 1 child and the grandparents have setup and funded his college fund. We recognize we are lucky but we are only having 1 for this reason. |
Anonymous
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$83K
$2050 monthly $270K, bought at the peak of the bubble in the same school district as child's other parent. It's tight. Really tight. But it's OK. We have a yard, a street where my kid can play outside, and again, same school district as ex, with whom I share custody. |