If you want to live near the coast, according to a report, you should be prepared to work some overtime.
According to the report, to afford the median mortgage in Los Angeles, San Francisco, and Miami, if the head of the household is earning median pay, they would have to work more than 100 hours a month to afford their mortgage.
The top 5 cities were Los Angeles (112 hours), Miami (109 hours), San Francisco (107 hours), Boston (95 hours), and Oakland (83 hours).
“That’s right—you don’t need to work past lunch on Wednesday to earn enough money to make a mortgage payment in [such locations].
According to the above data, it doesn’t come as a surprise why California would be No.1 on the list of most expensive states with the median home value prices at $449,100.
In the 5 least expensive states, No. 1 was West Virginia ($112,100), Mississippi ($112,700), Arkansas ($120,700), Oklahoma ($126,800), and Kentucky ($130,000).