This is How Much House You Can Get On a $60K Salary

The average salary in the U.S. is $60,000 a year. Can one afford a house on this salary? Knowing how much house you can afford based on your $60,000 salary is not only crucial for your personal finances but also for your overall financial well-being. Don't miss out on this valuable knowledge that can save you from potential financial burdens and guide you towards a secure future. Watch the full video now to discover the truth behind house affordability with a $60,000 salary!

CHECK OUT THESE VIDEOS NEXT:

Thanks for being here to get your dose of real estate reality! 🏡

🏡 NEED A REALTOR IN YOUR AREA? Click the link below to get connected with an agent!

==================================================================

====================================================================

Be sure to subscribe!

#realestate #jackiebakerrealtor #jackiebakersellsnj #homebuyingtips #homesellingtips #realestateinvesting

[dawnhughes]

I am self employed low income. No bank will ever approve me in my adult lifetime. I bought a county foreclosure for $18k and will be spending the next several years restoring it as we go, dollar by dollar. It's rough living but improving gradually. If you can DIY and are very handy, I think this is one of the only paths left.

[brazibeatz]

60k can’t afford a 1500 mortgage but 1700 rent is affordable

[Aj..]

I've been pushed out of everyones great economy. I make 37k a yr and work at amazon. I do not make 60k. It's ABSOLUTELY crazy for anyone to think ANY of this sustainable. I don't have debt. Or car payment. I have 780 credit and no wife and kids. Just got an old car and monthly bills. I break my back for 40hrs. Still able to bite my lip with my back going out. Life is great! The American dream! I'm delivering smiles and that's ALL that matters.

[Floratic]

My county has a first-time homebuyers program. However, based on my income I'm considered to rich to apply for it. But, I'm still to poor to buy a house. Sucks for the people stuck in the middle who aren't rich enough and aren't poor enough. It's like a twisted cycle.

[freshtendrills]

So glad my wife and myself bought in 2020.. I literally feel like we won the lottery. 1% APR. Under 1k a month for a house that's now worth 100k more than what we're paying for it. It's ridiculous.

[deedee]

FYI …I live in Brick, NJ…that’s Maple Leaf gardens. The Highest Crime area here, shootings, stabbings etc….it’s cheap for a reason. I wouldn’t live there if the condo was free! Very important to check the area and neighborhoods! Not a safe place to live.

[shannondavis]

“Gross Income” isn’t the same as “Net Income”!!!!….so $60K annually is actually much less.

[bigcahuna]

My total monthly house payment is only 16% of my gross income, but that doesn't mean I'm going to buy a nicer home. It's a three bedroom ranch in a nice suburban neighborhood. It isn't too big nor too fancy, but it fits my budget very well so I can actually enjoy life without being financially constrained.

[iomis]

I got a 10k first time home buyers grant and found a home for 85k. With the FHA loan I didn't have to put any money down and my mortgage is $711 per month. Two years ago.

[AdoraMishlei]

Mobile/ manufactured homes have come a long way and are looking like a more affordable housing option than renting or buying a standard home.

[beastbee]

Good thing i live in Alabama! Our mortgage is $48k, 2019 single wide mobile home on private, secluded land and our mortgage is $430/mo, downside is that you have to travel 40 miles for fun since we live in the sticks.

I make $48k and my wife makes about the same

[alexcruz]

Either the market needs a huge shift downward, or the rule of thumb needs to be adjusted up. You can't even rent in Cali at 28%. More like 30-33% to rent, 35-45% to buy.

[michaeldavis]

She's right actually. Just went through the process

[beorbeorian]

Everyone should learn how to use excel. Know your budget. Only way is to crunch the numbers. Excel is great at organizing expenses and income. Put a plan together. Don’t run from the numbers.

[flea]

You probably shouldn't buy a house on 60k. That is not enough income to to actually take care of a property.

[mz.bdejesus]

I appreciate your informative and helpful information.

[USSHammerology]

Such a great informative video. Thanks so much!

[nogames]

I live in Eastern Washington state. In a medium sized town. My house is 690 ft.², two bedroom one bath in a mediocre neighborhood. I bought it in 2001 for $67, 000. I could sell it tomorrow for $210, 000. That is absolutely insane. I have done a lot of improvements to it over the years but still… The prices are ridiculous. thank God I bought it when I did because I could sure not afford it now. And I cannot afford the rent in this town either. so my starter home is also going to be my finishing home :-) I hope to live here till the day I die.

[LearnBDInstitute]

Great breakdown! It's fascinating to see the possibilities based on different income levels. 🏡💰

[jeangreen]

HOAs are about $200-$350/mo, property taxes 1-2% of purchase price 1.5% x $200K home = $3000/12 = $250/mo. Insurance depends on which state/county. approx $100-300/mo.