California and Hawaii stick out like sore thumbs in America's housing market.
·
119.3k reads
·
9
·
Mortgage company Homebuyer used median home values and household incomes to calculate how much one's monthly mortgage payments would amount to in each US state.
They assumed that the mortgage rate was locked in for 30-years, with a four percent interest rate. Here's what they found.
Key Takeaways
-
Iowa, Indiana and Ohio are three sates with the cheapest home prices. Median home prices in these states is under $150,000, and it's estimated that monthly payments wouldn't exceed more than $702.
-
Hawaii and California have the most expensive house prices in the US, and are the only two states where it takes more than 31 percent of one's median income to afford a home.
Via Homebuyer.
