Detroit Requires Lowest Salary [[Amongst Top 20 Metros) Needed to Buy a Home

[poobert]

In Detroit, a salary of only $46,809.89 is needed to buy a house [[median home price of $186,317)..

https://howmuch.net/sources/salary-n...gest-us-metros

This speaks to desirability, and supply and demand, more than anything else.

I don't think anyone wants to end up with the $900K median of SF but those are some depressed home values. These "bargains" indicate undesirable locations, oversupply and lack of demand.

[313WX]

This speaks to desirability, and supply and demand, more than anything else.

I don't think anyone wants to end up with the $900K median of SF but those are some depressed home values. These "bargains" indicate undesirable locations, oversupply and lack of demand.

That's one way to look at the data

What it also shows is how far a person's wage can go in a major city like Detroit.

In most other major metro areas, you can't buy a McMansion in the outer suburbs on UAW wages and still have plenty of disposable income for travel, cars, eating out, ball games, etc.

With a few exceptions, you're going to be relegated to living paycheck-to-paycheck in tight spaces with one or more roommates if you want to have good schools, big city amenities and a safe environment.