Mortgage news

News, trends and analysis of the mortgage and credit market

Friday, September 28, 2007

Affordable Homes in Every State

September 27 2007
In Greenwich, Conn., Boston, and many parts of California, a four-bedroom house can easily set you back more than $1 million, while in parts of Texas and in the Midwest, a similar house can be had for just over $100,000. But you knew that already. It's no secret that homes in ritzy Beverly Hills cost 10 times more than comparable houses in the military community of Killeen, Tex. The question is: How much do you really need to pay for the lifestyle you want? It might be less than you originally thought. Beverly Hills is the most expensive housing market in the nation for the second year in a row, with the average price of a home sold through July, 2007, at $2.21 million. In Killeen—the most affordable market in the U.S., according to the HPCI study—a similar mortgage sells for $136,725.


Home Price Survey 2007

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