this post was submitted on 18 Oct 2023
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What is the size of the “median” home in each area? Single family, or townhome, or condo?
Given that this appears to be a median average, this graphic does not account for the extremely wide variance depending on the cases above. A two bedroom condo and a five bedroom single family home could easily have a $2000/mo variance in the mortgage cost.
The other item that would perhaps be useful would be to call out what the down payment requirement is for each of these areas; ie, you can only achieve a $3000/mo mortgage if you’ve also put down $140,000, which is unachievable for over 90% of the country.
There is no way that this graphic isn’t including the entire metro area. The city I currently live in is on the list and so is the city that I am planning to relocate to. Prices shown do not accurately reflect the prices of houses/condos that I would consider “in the city”.