Question:

How much does a typical middle/upper-middle class home cost in the U.S.?

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A home that is in a good school district and

This family makes around $75K a year.

Assume this family's budget is typical of most Americans (I know every budget is different, I am looking for averages)

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  1. This varies hugely based on geography.  A 3 bedroom/2 bath 'typical' American house could cost $100K in some parts of the country, and in other parts of the country, that same house could cost $800K (I'm thinking parts of California, & NY suburbs)

    Mortgage guidelines are that you should spend about 26-30% of your gross income on housing.   So I think a $75K income (given no other debt) could buy you a house somewhere around $200K....depending of course on your credit score, downpayment, local taxes, your debts, etc.


  2. It depends upon the part of the country and sometimes what part of the state.  If you are looking in North Jersey, a decent home can cost several hundred thousand dollars.  That same home in parts of the Midwest can be half the cost.  There really isn't one answer to your question.

  3. It truly depends on the state and of course how much the bank is willing to lend them in according to their income.

  4. It's actually around 275-345k!

  5. I don't think $75K is "upper-middle" class anywhere, honestly (this is not an attack -- I fit in the same category).

    I would stay under $175K-$180K if I were you (or this family, I guess).

    Don't buy something you can't afford because of your demand to live in a big house in a great neighborhood with great schools.

    Obviously you want someplace safe and if you have kids the school thing is understandable, but don't expect a large house with lots of ammenities.  That is how people get in trouble.  They find what they want and buy it instead of taking what they can afford and finding something that they like in that range.

  6. There are still places int he US that you can get a decent home for $250k but that will be a stretch to manage with  only $75 a year. Stay away from California. The further inland the lower the housing costs on average. Good luck!

  7. "Typical" varies quite abit throughout the country.  

    Here (in Eastern North Dakota) typical middle/upper-middle class would range from 135K - 300K.  Drive a few hours and that range would be 300K - 600K.  There is no typical that can refer to the entire US.  It depends on where you are.  

  8. It sepends on the state and area in the state you live. For example in southern California (LA area) $250k will get you a 2 bedroom home in an older neighborhood if you're lucky. While the same $250K in south Texas (San Antonio) will get you a 3-4 bedroom home in a new neighborhood.  

  9. 100k-300k

  10. 200 k

  11. I agree with the others there are MANY variables.  1st off is 75K considered middle/upper middle class?  How many kids do they have?/Total family members?  There is a huge diff of a family of 3 with 75K vs. family of 5 on 75K.  75K is not a lot of money in my option ESPECIALLY if 2 people are employed full time

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