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As has been said, cost of living, home prices and median wages can really vary from place to place, and what is a fortune in one place can be poverty elsewhere.
A friend of mine just purchased a home north of Dallas for $140k. Nice brick family-type home on 1/2 acre in a nice neighbourhood. He was saying how he could not see spending more than $150k on a house, as that was insane, and completely unnecessary. His $60k/yr salary goes quite far since he only has a $1000/month mortgage.
I told him that if he lived near me, he wouldn't have a choice and could probably not afford to buy. 1BR 1BA Condos are right close to $300k, and they're in the seedier areas, too. The median price of homes is nearly $700k. If you aren't making 6 figures, you aren't buying a home. It's why there are no stay at home mom's in this area; you need two incomes just to get by.
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