The American Housing Market, albeit flawless, as it was before Covid Pandemic has become a bit more affordable this summer. Through fate, home prices work relatively (or in some cases decrease) due to increased supply and decline in demand. In addition, the high starting mortgage rates in the 2020s also began to soften.
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Although it is really good news for future home buyers, it is worth noting that the real home price index (RHPI) has shown that home affordability is still 70% worse than before it begins. The market is improving, but in 2025 The acquisition of a new home remains a very expensive and serious financial aspiration.
To find out how expensive it is in every country, Gobankingrates recently analyzed the average houses in all 50 states. The GoBankingRates then calculated the cost of living in each state after buying a home (assuming that 30 years of fixed mortgage with a 20% contribution), trying to determine what the annual salary should be to provide both daily living costs and new home purchase.
Many states are characterized by housing markets, which can buy housing per year; Nevertheless, the stunning 23 states need a salary of at least $ 100,000 to buy a home (and one state needs almost twice as much). Where does your state fall into the spectrum? Read on to find out.
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Anfisa Tukan / Getty Images / Stockphoto
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Methodology: For the first time, the GobankingRates for this piece interviewed the monthly subsistence costs in all 50 states. Comparison of experience costs included the following factors: (1) Annual Mortgage, assuming that the contribution is 20%, 30 years, the current interest rate derived from the St. Louis Federal Reserve (6.58%) for each state and multiply by 12 (1 year) is derived from the Zillow home (2) Annual necessity costs (food, utilities, health care and transportation) in 2023 A survey of consumer expenditure of the Bureau of Labor Statistics and the Missouri Economic Research and Information Center Livelihood Index in each state took into account the Missouri Economic Research and Information Center Livelihood in each state. This amount of the dollar was then doubled for the need to find (3) actual annual income needed to live comfortably in the state, assuming that the person adheres to 50-30-20 budget guidelines, which requires twice the income. The amount of money saved is 20 percent of the total revenue, and the costs stated at its discretion are 30 percent of the total revenue. All data was collected and updated since 2025. August 27
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This article initially appeared on the website gobankingrates.com: Here’s how much you have to earn that in 2025. Would reduce home in your state
