Homeownership Data Shows How Much You Need To Make Per State
We often hear about how expensive housing in California is. Southern California is even more expensive than the rest of the state (albeit for the Bay Area), and Pasadena surpasses many areas in Southern California in particular.
California Median Home Value: $535,100
Los Angeles Median Home Value: $671,000
Pasadena Median Home Value $803,300
Source: Zillow Home Values
For the generations coming up into homeownership (Gen X and Millennials), this can be a tough pill to swallow. We see many buyers look to areas that they did not traditionally consider buying property in which causes conflict and gentrification in some cases. Others are abandoning the state looking for cities that offer job opportunities as well as more affordable housing.
A new map from HowMuch.com details how much money you need to earn on an annual basis to afford the average priced home in that state. While real estate prices always vary well above and beyond the median home price, it may give some insight as to possible states for one to consider if relocation is a consideration.
At Podley Properties, we have helped hundreds of families go through moving in our out of Pasadena and we know the challenges of relocation. Through a network of vetted agents, we can assist in relocation anywhere in the world. Yes, anywhere. Need an agent in Madrid? We know one, Need an agent in Anchorage Alaska? We know one. Moving to San Diego, we know a great Realtor there too.
Not long ago I covered some of the Top Ranked US cities and what your Pasadena real estate dollar could buy there (in the event you were to sell a local property). This snapshot into how far a California dollar can go can also be a resource for those looking for distinct architecture in other states.
Leaving a town you love is never easy, but renting is worse.
If I can be of any assistance to answer questions regarding relocation to our from the Los Angeles or Pasadena area, please do not hesitate to reach out. I am glad to help, it what Podley Properties has been based on for forty years.
Michael Robleto is a REALTOR® with Pasadena based Podley Properties. His analytical and open approach to sales has served his clients well in his twenty years of sales. Michael brings a modern data and technology-driven approach to real estate while focusing on the historic architecture of Bungalow Heaven. Michael takes a client first approach to real estate and enjoys sharing interesting topics of conversation for homeowners and home buyers. He can be found on Facebook, YouTube, Twitter and Instagram under the common profile name of his blog BungalowAgent or at www.BunaglowAgent.com/blog. For Sellers or Buyers Agent representation he can be contacted directly.