Quote:
Originally Posted by Obadno
The average home price in the usa is 226k as of 2018
You're home is was worth just shy of double the average home price in the USA in 2017 when you bought it. Its very easy to assume that your house is "average" and that your life is " normal" when it is far from.
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i was talking specifically about dual income families.
the median dual income family in chicago has an AGI of ~$108K.
unless you're buried in outstanding debt, a family making $108K should be able to qualify for a mortgage on $420K home in most cases, if they can put 20% down.
again, one does not need to be "extremely wealthy" to own a comfortable family-sized home in a safe, urban, neighborhood with good schools in chicago.
the key is dual income. if a coupe decides that they want to have one of the partners be a stay at home mom/dad for the kiddos, then yes, affording a larger family-sized home in safe urban chicago on a single middle class salary will be a
MUCH tougher challenge.