Middles Class: $381K is the NEW $100k, Six Figures is no longer Suceessful based on analysis

[Anonymous]

In texas the cost of building is less as there is no need for heating units or heating related inssulation.
And who cares if the place is walkable when it is too hot to be outside and days when it is possible are few.
Also, land is cheaper

[Anonymous]

    Subject: Middles Class: $381K is the NEW $100k, Six Figures is no longer Suceessful based on analysis
Anonymous



Anonymous wrote:
Thanks to the pp who posted this link: http://www.census.gov/const/C25Ann/sftotalmedavgsqft.pdf

Dd anyone notice WHERE the biggest houses are being built? Not the south or Midwest (um, Texas) , as we'd like to believe. The average home build size in the Northeast was the largest in the US in 2010. 2,600 sq ft. Interesting.


Good observation. My guess is that this has to do with the affordability of new build in the NE. In other words, in the NE, new build is more expensive and therefore larger homes. In Texas or on the west coast people can buy new build for 250-500K so there is demand for 'affordable' new build as well as McMansions. That doesn't exist in DC unless you count Herndon.

Exactly. If a developer is going to bother to build new with the expense of land here and other NE corridor cities, they are not going to build 2000-SF houses, they're going to build McMansions to maximize profit. Same with an individual investor who buys a 1500-SF tear down on a quarter-acre lot. If they're going to build new, they're going to build something giant.

[Anonymous]

Very glad we made the move to a sweet mid-western town where our cost of living has come down quite a bit, in DC it felt like we were barely (if that) scraping by..(and we are on six figures salary)

[Anonymous]

Anonymous wrote:

Good observation. My guess is that this has to do with the affordability of new build in the NE. In other words, in the NE, new build is more expensive and therefore larger homes. In Texas or on the west coast people can buy new build for 250-500K so there is demand for 'affordable' new build as well as McMansions. That doesn't exist in DC unless you count Herndon.

where in Herndon can you buy a new home that isn't a TH for less than $500K?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Good observation. My guess is that this has to do with the affordability of new build in the NE. In other words, in the NE, new build is more expensive and therefore larger homes. In Texas or on the west coast people can buy new build for 250-500K so there is demand for 'affordable' new build as well as McMansions. That doesn't exist in DC unless you count Herndon.

where in Herndon can you buy a new home that isn't a TH for less than $500K?

True, you are correct. I was thinking along the lines of the new TH are 2800 sqft. While the homes are 5000 sqft?!

[Anonymous]

No one grows up WISHING they'll end up living in Vienna or Herndon.

[Anonymous]

Anonymous wrote:DC Area acceptable school district examples of homes and pricing points

A typical middle class home ($1mil)
http://www.redfin.com/VA/Vienna/1725-Drewlaine-Dr-22182/home/9372366


A typical upper class home (mansion $6mil)
http://www.redfin.com/VA/Mclean/1149-Bellview-Rd-22102/home/9254452


A typical lower middle class home (rambler $590k)
http://www.redfin.com/VA/Falls-Church/7507-Fairwood-Ln-22046/home/9551493


Questions?

Ummm...Yeah. Sorry but We're never moving to Virginia. Here you go for MOST of us on this site

Typical Middle Class $1M
http://www.redfin.com/DC/Washington/4826-Davenport-St-NW-20016/home/9946014


Typical Upper Class $6M
http://www.redfin.com/DC/Washington/2801-Rock-Creek-Dr-NW-20008/home/12531294


Lower Middle Class
http://www.redfin.com/DC/Washington/3851-Porter-St-NW-20016/unit-E281/home/9968244

[Anonymous]

Anonymous wrote:No one grows up WISHING they'll end up living in Vienna or Herndon.

true
I always wanted the princess castle at disney magic kingdom park

[Anonymous]

Texas????

[Anonymous]

Anonymous wrote:

Anonymous wrote:No one grows up WISHING they'll end up living in Vienna or Herndon.

true
I always wanted the princess castle at disney magic kingdom park

I just grew up wishing I could leave the ass-backwards place where I grew up, so even my house in what the snobs here would call an undesirable part of NoVA means I won. I get to live in a good school district and don't have much of a worry that my kid will become an entitled pretentious ass by association. Yet again, win.

[Anonymous]

Those two PPs who posted photos of what they imagine Rich, Middle class and lower middle class to be are clearly overentitled rich children.

You all are grossly redefining the terms middle class and lower middle class. Again, the national average for middle class centers around $51K annual income. In DC it's around $59K/yr. In NoVa, around $62K/yr and in MD, around $70K/yr. Middle class makes around $40-100K/yr. There is no way, without substantial inheritance, that a middle class family can afford a $600K house.

In reality, all of the 6 houses posted by those two PP's are for the rich. Realistically, you need to be in the top 3% or so to afford any of them.

These are closer to middle class reality in NoVa, DC and MD:

http://www.redfin.com/VA/Fairfax/10636-Maple-St-22030/home/12028230


http://www.redfin.com/DC/Washington/3015-Adams-St-NE-20018/home/10109492


http://www.redfin.com/MD/Silver-Spring/9211-Long-Branch-Pkwy-20901/home/11027666


Got it?

[Anonymous]

Agreed with the PP. Middle class folks in DC are going to look for housing further out unless they already have bought in the area many years ago. All the previous examples be it in NOVA burbs or in the district are from the perspective of the upper middle class person aspiring to be rich. What is qualified as middle class there (1m) is actually upper middle class and even I would say the upper half of it. Upper middle class buy homes 600-1.5mil. the range is large because in DC there is a large swath of upper middle class incomes.

Middle class is what in previous posts was shown as lower middle class, but again, this is the upper band of the middle class, e.g. people buying homes upwards of 600K. I'd say middle class would be around 300-600 price range for a home.

As far as incomes are concerned, anything up to $150K is middle class and above this is upper middle class. Anyone making over 500K a year is pretty much lower upper class. Upper class also has its bands and to be comfy in the upper class you do need at least over 1 mil annual income.

As far as networth is concerned, it's hard to say. Middle class is up to 250K networth, Upper middle class starts at around 250K in savings to over 1.5 mil and upper class lower band starts around 1.5 mil.

Not a science, this is just my personal opinion based purely on observations and some statistics.

[Anonymous]

Anonymous wrote:Agreed with the PP. Middle class folks in DC are going to look for housing further out unless they already have bought in the area many years ago. All the previous examples be it in NOVA burbs or in the district are from the perspective of the upper middle class person aspiring to be rich. What is qualified as middle class there (1m) is actually upper middle class and even I would say the upper half of it. Upper middle class buy homes 600-1.5mil. the range is large because in DC there is a large swath of upper middle class incomes.

Middle class is what in previous posts was shown as lower middle class, but again, this is the upper band of the middle class, e.g. people buying homes upwards of 600K. I'd say middle class would be around 300-600 price range for a home.

As far as incomes are concerned, anything up to $150K is middle class and above this is upper middle class. Anyone making over 500K a year is pretty much lower upper class. Upper class also has its bands and to be comfy in the upper class you do need at least over 1 mil annual income.

As far as networth is concerned, it's hard to say. Middle class is up to 250K networth, Upper middle class starts at around 250K in savings to over 1.5 mil and upper class lower band starts around 1.5 mil.

Not a science, this is just my personal opinion based purely on observations and some statistics.

Oh, and to add to this. Middle class doesn't equal uncomfortable or low standard of living. Some people living further out actually may have short commutes if they work in the burbs and prefer it, not everyone commutes to DC. The district has its share of middle class areas too, not everything revolves around NWDC like you may think reading DCUM. Upper middle classes might be just most disgruntled because getting from where they are to the upper class band and making it from mid 6 figure income to the 7 figure income is a very difficult leap, often pretty much impossible. most people making this leap have some sort of business ownership or partnership or a high level executive position. Vast majority of people in 6 figure upper middle class income band will never make it because there is no recipe for this type of success, vs. making it into upper middle class could be more predictable if you have certain type of education, certain profession, etc (e.g. more attainable for middle and lower middle classes to be upper middle class).

Upper middle classes IMHO live pretty comfortably from what I can see from just reading DCUM posts. They occupy most of the NWDC, inner burbs like Arlington/Mclean/Falls church/Bethesda/Potomac all with great schools and easier commutes and great amenities. They mostly have comfortable homes and go on vacations and are well traveled. Of course upper middle class and lower upper class people are also very aware of the standard of living and the upper class housing which tends to be located in the same exact areas and the presence of people who are just on a different level of rich and the opulent housing that is in their face every day can make them feel lower on the totem pole than they actually are.

[Anonymous]

Anonymous wrote:Those two PPs who posted photos of what they imagine Rich, Middle class and lower middle class to be are clearly overentitled rich children.

You all are grossly redefining the terms middle class and lower middle class. Again, the national average for middle class centers around $51K annual income. In DC it's around $59K/yr. In NoVa, around $62K/yr and in MD, around $70K/yr. Middle class makes around $40-100K/yr. There is no way, without substantial inheritance, that a middle class family can afford a $600K house.

In reality, all of the 6 houses posted by those two PP's are for the rich. Realistically, you need to be in the top 3% or so to afford any of them.

These are closer to middle class reality in NoVa, DC and MD:



Got it?

Word.

[Anonymous]

Average household incomes in Fairfax County and Falls Church City are about $120,000 and they are the richest counties in the U.S.

Thus, average middle class here = approx. $120K household, maybe even less.