Wage is 10k, house is 2m.
You're asking mostly people in the western world, a place besieged by a commodified property's market. The landed gentry is returning, only this time by way of capitalism.
A nice house? Unattainable. A 90s RV? Possible.
That's not even a question that has one answer in my neighborhood, much less the whole city. And the whole US? Forget it.
Who mentioned the US?
OP: The original wording was "...in your country".
House is around 500k, median annual family income is 61.4k.
Absurdly high is what they are!
I had a look and it so happens there are 2 properties for sale within a few hundred meters from me.
€ 200,000 for a one room apartment of 46 m²
€ 560,000 for a large apartment with balcony
The nearest house costs a bit over € 1.2 million.
I got lucky with a cheap apartment ~40m² for € 662/month (which is almost as much as minimum wage here btw). Renting till I die I guess 🤷
This sounds exactly like where I’m at lmao
Argentina
Houses and small apartments between 40K and 100K (USD)
Salaries are on average 180~250 USD
Rent is between 60 and 130 USD for one person.
That sucks! I feel for you and your fellow Argentinians.
Does a typical football match cost a lot? I have always wondered that about the game in some of the countries where it is the most popular sporting event. How many professional leagues are there? Do you have a favorite?
Ontario here. The numbers they report are the “average” but I call bullshit. Reality Average one bedroom apartment $2500, 2 bedroom basement $1800. Utilities extra. Buy a townhouse $700-$1m. Detached $1m+. We are so fucked.
To be able to afford a 1 bedroom apartment one person must make around $80k a year. If you want to purchase a house, we’ll good luck unless your household income is over $200k and even then you’ll be scraping the bottom of the price barrel.
I'm in a college town, so... it varies wildly. You could probably rent a crack shack 10 miles from campus for basically nothing.
The floor for rent at a "decent" place is probably at least a grand. Actually buying a house? Who the fuck knows, but it'll definitely be obscene.
My university-owned apartment is $600 with a roommate, which is honestly a pretty good deal considering that utilities (including gigabit Ethernet!) are included.
Houses: 2.5 million+
Townhouses: 1 million+
Apartments: 750k+
Median (individual)Income: 39k (post tax)
Inner eastern Melbourne, Australia. Properties are bought by Chinese investors (not racist, stating a fact) for AU$1-2 million, demolished, replaced with McMansions, sold for over AU$4 million. Within ten years these garbage concrete boxes are cracking and falling apart.
Some suburbs look like McMansion ghettoes and are completely out of reach of ordinary people.
Small houses in most Florida Metro areas are in the 400k range... Multiple 3/2s in the 1500sq range are 500k+
The house I rent for £1100 a month would cost somewhere in the region of £250k to buy, putting it firmly out of my ability, despite the mortgage payments almost certainly being lower than my rent.
Crazy isn't it. We're looking for 'cheap' houses in our area for £300k-£400k... Help
Late last year I bought a house. 1 hour from work because I couldn't buy a house closer. It still cost 499k for 1480sq ft. My mortgage is $3600/mo
Moving closer to work and I couldn't find any similar sized homes for less than 750k and those were fixer-uppers.
1/5th of my annual income with a degree and 6 years degree related experience. It'd be less if I could save up a down payment and get a mortgage.
A house is 1/5th of your annual income and you can't save up a down payment?
A 20% down payment for you is only 2 weeks of your salary.
You could save income of about 6 hours worth of work each week to have a 20% down payment in a year
With an FHA loan, a down payment is 0.6% of your annual income.
About 2x the cost as it is elsewhere! Also roughly half the price as somewhere else. I'd say generally housing in my area goes around market price.
Feel like numbeo is a good resource for this. Here in Dublin, Ireland it's horrendously expensive
SW Ontario, Canada
$75K is a decent salary
4 bedroom house in a nice suburb: $750K-$900K
Townhouse in a a nice suburb: $650K-850K
You can get smaller houses in less desirable neighborhoods for $400K
A 600 sq.ft condo is about $850k. On the standalone house side an older 2000 sq.ft house goes for over $2 Million.
Too damn high. Wife and I are trying to get a house since we have a baby on the way, but the only stuff we can even hope to afford is 300k (below that is low income restricted 99% of the time) but with that we would only get a super dated, small, condo or a smaller more dated house. With how old the houses are, chances are good that the electrical and other systems would need a lot of work too.
Living in Seattle Washington, a nice 2 bedroom condominium goes for anywhere from 200,000-1,000,000 or more.
Where near Seattle would you find anything close to 200k
I gave a range of 200k-1 million. You can find shitty fixer-uppers for 200k
Depends on where in the country. I used to live in the Bay Area where buying a house - even a starter house - was completely unattainable, even for those that make way above the median salary. I'm a software engineer that made a shitload of money off of the sale of a startup that I worked for, and I would have needed to make more than double my salary and buyout money to afford a starter house there. So I moved to a cheaper area.
Me and 2 roommates are splitting a 3b/1ba for $2500/mo.
Square footage total is less than the living room in the house I grew up in.
High enough that there should be full-on riots, and yet…nothing. Depressing silence. Everyone is just lying down and allowing themselves to be robbed.
A studio apartment is $3,000 a month.
About 15k€ per square meter. I live in Paris, France. I eventually could afford a 20 square meter studio appartement, and I'm in the top 10% of earners.
The rest of France varies wildly, you could get a small house in the middle of nowhere for 150k,but parisian real estate is way out there...
Unaffordable to a point that I can't even think about it - anywhere in London
It's very hard to find a 1 bedroom apt for less than $1000. 2-3 bedrooms are at least $2k if you want modern amenities.
200k-250k for a 2 bed and bath in the southern US
Apartments are about 40 000 for like a really tiny one, around 100 000 for a 50 m2 one. Median income is like 2200 euros per month.
Washington State USA is expensive. I have lived in Seattle and Spokane. Both were affordable until the last 10 years and now most prices have doubled or more. The house I purchased in 2019 was $500k and the current value from some of the real estate sites puts it at almost $800K in less then 5 years.
Total bullshit but thankfully I love the house and I made out like a bandit when I purchased very low and sold very high on my first house, to be able to afford this house. It will be my forever home so I can't complain too much. Expect that when the city thinks the house is worth $800k, my taxes will reflect that even if its not worth that much.
Too much
US
Switzerland, We pay 2’410 CHF in Rent for a 4.5 Room appartement near Zurich (Winterthur). My Wife and my wage combined gets us to about 10k a month in income.
Too damn high, MURICA.
Single family homes starting at $375,000 USD.
It depends on the state. Here it's a couple hundred thousand.
I guess you mean how affordable? Wage vs costs? In my experience for most of western Europe: you can buy something if you're well paid, have 2 years of salary in your bank account to bridge the mortgage gap, and a ton of luck.
Bristol, England.
A two bedroom house would probably set you back about £250k to £300k now. We're the second most expensive city behind London now.
