bottom line it depends on your habits... i woul not let anyonet ell you you need to make 150k or 120k to buy a 400k home. one thing i would do is buy the home you want... dont sacrifice too much. BUYing, SELLING and moving is EXPENSIVE!!!! might be better to stretch a little than to expect to buy, sell and move 5 years down the line. $400k mortgaged at 4.25% is about $2500/mo. including $4k taxes and $2000/yr insurance. Take home salary for $100k would be about $6000/mo. And $2500 is comparable to renting a 2B apt. My own personal definition of upper middle class in this area is a HHI of $200k-$400k. "Rich" I define as anything above that in this area. Now, go to some small town in Arkansas and $100k could qualify for upper middle class, and $200k to be rich. On the flip side, take that $400k income and live in San Francisco or New York...
My own personal definition of upper middle class in this area is a HHI of $200k-$400k. "Rich" I define as anything above that in this area. Now, go to some small town in Arkansas and $100k could qualify for upper middle class, and $200k to be rich. On the flip side, take that $400k income and live in San Francisco or New York... They way I look at it is, if you make over 100k a year getting a mortgage at 3x your income is fine. So 150k X 3 = 450k add in 100k down payment you got a 550k house. Im cool with this. Under 100k a year income, I would try to keep it around 2x your income. So 80k X 2 = 160 add in 40k down payment you got a 200k house. A household income of $120,000 - $140,000 is upper middle class nationally. My first thought was $100,000 - $120,000. Median household income nationally is around $60,000. This takes into account all household sizes of all ages. There are lots of. No debt, no car payments, one parent stays home and a small mortgage and comfort starts at about 120,000 a year. You have any of the above and two working parents comfort and quality of life doesn't start until close to 200,000. depends on so many things do you have a 300-500 a month car lease 150 a month cable bill go out to dinner 2x a week for 150 bucks keep the heat at 72
A household income of $120,000 - $140,000 is upper middle class nationally. My first thought was $100,000 - $120,000. Median household income nationally is around $60,000. This takes into account all household sizes of all ages. There are lots of. No debt, no car payments, one parent stays home and a small mortgage and comfort starts at about 120,000 a year. You have any of the above and two working parents comfort and quality of life doesn't start until close to 200,000. depends on so many things do you have a 300-500 a month car lease 150 a month cable bill go out to dinner 2x a week for 150 bucks keep the heat at 72 You're right not everyone is me OR you. I've been extremely fortunate and have seen my household income more than triple in the last five years and have only had one minor medical issue with my family. You've been lucky enough to.