Reply to Is 300k the bare minimum income to buy a single family now?

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Reply to "Is 300k the bare minimum income to buy a single family now?"

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[quote=Anonymous][quote=Anonymous]I shouldn’t have to make $600K to afford a 1400 sq Ft starter house and pay for daycare for 2 kids without family $.[/quote]

If you make $600k and bought a tiny house with 2 kids then you chose a great location with a short commute and have time to see your kids.

[quote=Anonymous]Try buying a house in 2025 with no previous equity, no family help, or huge nest egg, on a 150k/yr salary in the DMV. [/quote]

Also, $150k is slightly below median family income (MFI) for a four-person household in the Washington Metropolitan Statistical Area.  The homeownership rate is 40% in D.C. and 63.5% in the D.C area.  You can marry someone with comparable income.  Otherwise you make less than most families but aspire to own a home.  You are a candidate for a starter home in outlying suburbs.

The D.C. area is nice, with good schools, great restaurants, and free parks, museums and monuments.  D.C. salaries are 40% higher than the rest of the country to compensate for the cost of living.  So $150k might make you a big success in Arkansas, but you are an average Joe or Jane here.  So be grateful to be here.

Tevye (from Fiddler on the Roof):  "It's no shame to be poor... but it's no great honor either."
Mark Twain:  "The world owes you nothing.  It was here first."
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