Recently hsh.com published a really good article about The salary you must earn to buy a home in 27 metros which had some interesting data for sure. Looking at the map I wasn’t totally satisfied and thought the data could be better represented in a more interactive manner and using a simple bar chart.
Being the data geek I am I decided to go and build a quick version of this (below). This chart allows you to see, more clearly, which metro areas are the most expensive when it comes to buying a home. I default the view to the median home price because I feel that the % of income spent on housing varies and it is a more representative marker of the cost.
For example, where I live in San Diego, we spend far less on entertainment than other areas as there are so many free activities the region has to offer. So while yes, we generally spend a lot on our mortgage, we save in many other ways. I’m not foolish in thinking that San Diego is a cheap place to live, just that considering it nearly 50% more expensive than New York City is flawed in my opinion.