alt Hacker NewsWhile $84k is the average household income in the US, the average among home owners is a bit higher, around $100k-$120k. Also, very high prices really skew averages. Many "starter homes" are closer to $200k. I bought new 3 years ago, and the rent home I lived in prior, which was in an older middle class neighborhood in a Houston suburb, sold for $224k (and this included some basic renovations like new flooring)
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jghn • yesterday at 10:27 PM
We should be using medians, not means for bot hate income and house prices.
Just want to comment, I think if you were to overlay where people work vs live, most people probably do not have reasonable access to housing @ 225k.
Also I think much of this problem is zoning, which coincidentally Houston has none and has some of the lowest housing costs in the nation, especially for a city of its size.
I suspect much of the housing crisis on the west coast is because of poor zoning laws and could be fixed with a stroke of a pen, at the expense of the local housing market value.