What you have to earn to buy a home in Portland, 26 other metros (map)

What you have to earn to buy a home in Portland, 26 other metros (map)

 
[googlemaps https://projects.oregonlive.com/interactives/homebuy-salary.html” width=”100%” height=”480″ frameborder=”0″ marginwidth=”0″ marginheight=”0″ scrolling=”no”>

Elliot Njus | enjus@oregonian.comBy Elliot Njus | enjus@oregonian.com 
Email the author | Follow on Twitter 
on May 21, 2014 at 6:45 AM, updated May 21, 2014 at 6:52 AM

   
Reddit
 
   
Email
 

The salary needed to buy a median-priced Portland-area home jumped by nearly $1,100 in the first three months of the year.

A household now needs to earn at least $60,307.71 to buy a median-priced home in the Portland area, according to mortgage-tracking website HSH.com. Its analysis includes the average metro mortgage rate, which was virtually unchanged at 4.57 percent, and property taxes.

But the major cause of the jump was rising home prices. The median-priced home in the Portland area was $271,900 in the first quarter, up 1.64 percent from the  quarter prior.

That puts Portland among the eighth most expensive expensive among the 27 metros included in the report.

But it remains relatively affordable among west-coast cities. In Seattle, a household needs to earn $73,851.06 to buy a median-priced home. In San Francisco it takes a whopping $137,129.55.

Advertisements

About PortlandHouseListings.com - Tom Ramsey, local Realtor

Local Portland Realtor with 10 years experience specializing in residential sales and investment property. Tom Ramsey Oregon Real Estate Principal Broker John L Scott Real Estate Phone: 503-481-0501 tomramsey1@gmail.com www.PortlandHouseListings.com
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s