Quote:
Originally Posted by MarkDaMan
Please make sure when posting a news link that you provide context as well as a [$] prior to the link if it's paywalled.
PhillyPDX posted an article from the NYT about the mass migration of college educated folks from cities to more rural counties. According to the [$] article, this is the migration of college graduates from the 12 most expensive large metropolitan areas in the US from the aughts to current:
and here's the Portland trend during the same time frame:
 |
This makes sense and I'm not really surprised at all. My family does considerably better financially than average and we've considered leaving for a lower COL area because it's pretty crazy that we can't really afford to move into a bigger house locally.
The average home value in metro Portland is $543,308 (Zillow), which means a household needs to make $146,000 per year (with 5% down) for an FHA mortgage at today's interest rates in order to afford the average house. Median household income is $78,476 as of 2022. Median income for a family of four is $105,000. The "drive until you qualify" doesn't really apply to Oregon, however, because the UGB/SDCs, etc. Places like Salem have caught up to our Metro prices because they're effectively now acting as Portland's sprawl area bedroom community.
Threaded Mode