Location, Location: Trading Up Costs $450 More a Month, With Exceptions

There are many benefits to trading up to a home with more square footage, especially for growing families—but with more house comes more cost, and, as a recent analysis by Zillow reveals, it can vary by location. Trade-up homeowners can expect to spend an average $447 more each month if they move from a home […]

The post Location, Location: Trading Up Costs $450 More a Month, With Exceptions appeared first on RISMedia.

Housing Costs Take Up Biggest Share of Income since 2010

Appreciating home values and rising interest rates inflated the typical monthly mortgage payment $68 in 2016, up to $758, according to a recent analysis by Zillow, with approximately 16 percent of the median household income now needed for housing each month—the biggest share since 2010. “As mortgage rates rise, buyers will face higher financing costs […]

The post Housing Costs Take Up Biggest Share of Income since 2010 appeared first on RISMedia.

Want to buy a home in a big city? Here’s how much you’ll need to make

Unless you like the heat of Phoenix, buying a home in major metros on the West Coast requires one hefty salary.

Affordability, or lack thereof, continues to put a damper on the housing market in many major metros. HSH.com recently calculated the spec…