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In the bay and LA sure. Everywhere else in the country you're living large. Even NYC 200k is doing pretty well.
by colinmhayes 5y ago
In the bay and LA sure. Everywhere else in the country you're living large. Even NYC 200k is doing pretty well.
- jandrese 5y agoI don't think you've been keeping up with home prices and insurance costs around the country. $100k take home isn't all that anymore. You're not food stamp poor, but it's easy to be house poor at that income level, especially if you're shooting for a better school district. Health insurance costs eat up so much of that it is not funny, even if you are healthy. If you or someone in your family comes down with an expensive medical condition you'll be in real trouble.
- colinmhayes 5y agoTrue, these people are all self employed, so insurance costs would be pretty large. If you're making 200k I'd still say you've probably got at least 100 left over after taxes and insurance. That affords you a 600k house using the 30% of income rule if you can get the down payment together.