Recently, real estate research firm ATTOM released a study titled, “Top 10 U.S. Counties With Highest Income Needed to Buy A Home.” As might be expected, the list was concentrated in the counties where home prices are highest in the country. However, the list also included places where home prices were cheapest when price and income were considered. That list was led by Cambria County, PA, at an income of $14,715.
ATTOM’s Q2 2022 U.S. Home Affordability Report showed that the county where people must make the most money to buy a median-priced home was Manhattan, part of New York City, where the income required was $383,062. It was followed by San Mateo County, CA, at $361,004; Marin County, CA, at $352,153; Santa Clara County, CA, at $340,803 and San Francisco County, CA, at $327,906.
Cambria was followed by Cambria County, PA, at $14,715; Schuylkill County, PA, at $20,679; Fayette County, PA, at $23,555; Robeson County, NC, at $23,937 and St. Lawrence County, NY at $25,405. Notably, these incomes are at or below the poverty level for a family of four.
The data assumed a 20% down payment and a 28% maximum “front-end” debt-to-income ratio.
The study presents yet another example of the huge income inequality in the U.S. In one country, the income needed to buy a median-priced home was $383,000. In another, it was $15,000.
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
