Here's how long it would take to save to buy a home on an average income in 10 major U.S. cities. (via CNBCMakeIt)
calculated how long it would take save up enough for a 20% down payment in various cities across the U.S. based on the median income and median home values in each place. To determine how many years you'd need to save, Unison assumed a savings rate of 5% of your gross income per year.
Below, check out how long it would take to afford a down payment on a home if you earn the median income in 10 major U.S. cities, ranked from least to most time.Median home value: $51,223
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