Based on your lower comment, Rhode Island. Median family income $87k Cost-of-living ~$36k excluding housing With your example of a $350K home, someone making

Based on your lower comment, Rhode Island. Median family income $87k Cost-of-living ~$36k excluding housing With your example of a $350K home, someone making the median (presumably not 20-30 year olds but more like 40-45 year olds...) they could save up the $70k down payment in under 2 years. P & I payment of ~$2k / month. Maybe $1k more for escrow of taxes and insurance. So $72k total cost of living on $87k, assuming you've made it to median income. Of course, if you're making less than $72k, buying a $350k house would simply be... untenable. Also, based on rough guideline of "30% of income on housing", you'd definitely want to keep your mortgage under $2200 / month. Census link indicates median home values are closer to $404K though, too. https://www.census.gov/quickfacts/fact/table/RI/LFE046224 https://www.census.gov/quickfacts/fact/table/RI/LFE046224 https://livingcost.org/cost/united-states/ri https://livingcost.org/cost/united-states/ri