Real estate, perfected.

Attention home buyers!

If you have been trying to decide whether to live up north, or down south; hopefully this helps.

Based on the research of the California Association of Realtors, the average prices of entry level single family homes are as follows:

Los Angeles Metro Area homes go for $266,980 which make your full mortgage payment including taxes and insurance come out to about $1,280. In order to get this loan, your annual income needs to be in approximately $38,480.

San Francisco Bay Area homes go for $482,830 which make your full mortgage payment including taxes and insurance come out to about $2,320. In order to get this loan, your annual income needs to be in approximately $69,600.

Inland Empire homes go for $164,820 which make your full mortgage payment including taxes and insurance come out to about $790. In order to get this loan, your annual income needs to be in approximately $23,760.

Now, keep in mind that these numbers are averages; AND these numbers are for single family homes (houses). Generally, condominiums (condos) are cheaper and so that should make the numbers lower (condos have monthly HOA dues though). As always, you should consult with a professional if you have any questions!

There you have it folks!

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