#median-income

#median-income

The report pondered how long it would take to save 10% of the median purchase price, a common goal for first-timers, assuming the wannabe owner saved 10% of income left over after paying taxes and life's "essentials," using the median household income. Of course, the California "affordability" numbers were ugly. For starters, the Golden State has the highest down-payment goal: $83,200 vs. a median of $38,750 across the 50 states. After California came Hawaii at $74,400, and Massachusetts at $63,900.