Buying a home is a monumental moment in adulthood, especially if it’s your first house. You get a yard to decorate however you wish, plenty of parking, and a bevy of other perks. Before you buy, however, there are a ton of the ins and outs potential homebuyers must know. For instance, is the area you’re looking at growing? How much will the value of the property appreciate over the years? If you’re moving out of state, considering the salary you need is also pivotal. Here’s the average salary you’ll need to earn to buy a home in these states.
Alabama – $36,760
If you plan on moving to Alabama, then you’re in luck. Alabamians get the luxury of enjoying a cheaper cost of living thanks to the home prices being lower than the national average. If you earn a salary of $36,760 or more, then you should be fine purchasing a home in Alabama.
That comes down to a monthly income of $3,063, where the average monthly mortgage payment is only $919. After you’re done paying bills, spending a little less than a thousand shouldn’t be detrimental to your bank account.