How Much Do You Need To Earn To Afford A House In Arkansas?
How much money do you really need to earn to afford the average house in Arkansas?
With rent on apartments and house prices going sky high I was curious how much money do you really need to make to afford the average home in Arkansas?
After looking up a few stats I was shocked. Do you know that you need to earn at least $41,040 to afford the average home in the state of Arkansas? So if you do the math you need to have a full-time job paying about $20 an hour to be a homeowner in Arkansas. This is where it gets a little more shocking, the median salary in Texarkana Arkansas is $39,622 and the average home cost is $119,700.
This is an average home in Texarkana Arkansas.
If you live in Texas you need to earn at least $66,080 to buy the average home in Texas. Keep in mind that this is an average for the entire state and Austin and Dallas home prices jack up the number for sure. In Texas, you will need to earn a whopping $31.77 an hour to be able to afford the average home. The median income in Texarkana Texas is $45.080 and the average home cost is $130,600.
Here is the average home in Texarkana Texas.
We do have the advantage in our area to have more affordable housing but in this exploding home market, you may have to wait for all of these crazy inflated house prices to go back to 'normal' before you plan on buying a home.