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Lot Size
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Home Size2,336 sqft
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Beds5 Beds
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Baths3 Baths
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Year Built1987
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Days on Market11
Needed Income to Make Mortgage Payments in 15 Big Cities
- Neighborhoods and News
- March 2, 2017
According to a recent study done by SmartAsset, you only need an annual income of $20,294 to afford the mortgage payment for the median cost of a home in Indianapolis. However, the study assumed that the hypothetical buyers aren’t carrying any debt and are able to provide a 20% down payment which is not necessarily a likely scenario for first-time homebuyers. The findings are fascinating though. Below are listed from lowest to highest income necessary to buy a home in that city:
15. Indianapolis – $20,294
14. Jacksonville – $23,332
13. San Antonio – $23,529
12. Philadelphia – $24,465
11. Columbus – $25,702
10. Phoenix – $26,803
9. Houston – $27,067
8. Dallas – $27,505
7. Chicago – $44,244
6. Austin – $47,523
5. San Diego – $75.816
4. Los Angeles – $77,230
3. New York City – $96,993
2. San Jose – $99,963
1. San Francisco – $128,598
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