Friday, August 1, 2014

Priced Out: How a $1,000 increase in the cost of a new home affects buyers

Did You Know...

A $1,000 increase in the price of a new home prices out 380 families from home ownership in the Upstate?  According to the National Association of Home Builders, the average price of a new home in the Upstate is $277,468.  The income needed to qualify for an average-priced new home is $67,900, almost $9,000 higher than the median household income of $58,200.

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