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January 08, 2016

Kitchen, Closet, Bathtub?

Homeownership
Kitchen, Closet, Bathtub?

Depending on where you want to live, that's how much house $50,000 could buy you, according to new analysis by Credit Sesame.  When they calculated how much space homebuyers could get for $50,000 based on a 1,200 square foot three-bedroom floor plan, it amounted to a kitchen in Buenos Aires, a large closet in London and a bathtub in the Central Park West area of New York.

You may not believe it if you live in New York City or San Francisco, but housing in major U.S. cities is relatively inexpensive compared to other cities around the world. In fact, nine of the 10 cities with the lowest price to income ratio are in the U.S.

Let's look at the price comparison by square foot:

While housing markets across the U.S. continue to improve, overall affordability remains high – especially given today's low mortgage interest rates.  Pay a visit to MiMi® to see how your market stacks up.

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