In my area, a condo/townhouse goes for $400k give or take ($3500/month @ 0% down over 30 years), and the median household income is ~$75k (~$6k/month before tax, ~$5500 after tax). So that’s something like 55-65% of net income, which isn’t ideal, but still possible.
It certainly does depend on where you live.
In my area, a condo/townhouse goes for $400k give or take ($3500/month @ 0% down over 30 years), and the median household income is ~$75k (~$6k/month before tax, ~$5500 after tax). So that’s something like 55-65% of net income, which isn’t ideal, but still possible.