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How cheap is the cheapest home for sale in your city/region? (lemmy.world)

submitted 9 months ago by ericbomb@lemmy.world to c/asklemmy@lemmy.ml

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In Utah County the cheapest "House" for sale is 600 square feet, 2 bed, 1 bath, at $300k.

So at current interest rate it would be $1,800 a month mortgage(assuming you put the 60k down payment! A decent amount more if you do 3% down.)

The cheapest condo/town in utah valley is 205k, 1,100 square feet, on a 400 square foot lot. But due to a $500 HOA fee the monthly cost is still 1,700 a month (assuming 20% down).

With 3.5% down they'd both be closer to 2.1k +PIMI.

So yeah, how is where you live doing?

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[–] crispy_kilt@feddit.de 3 points 9 months ago (1 children)

Welcome to Switzerland

[–] CableMonster@lemmy.ml 3 points 9 months ago (1 children)

Why is it so expensive?

[–] crispy_kilt@feddit.de 3 points 9 months ago (1 children)

Very small country, growing population, generally wealthy

[–] CableMonster@lemmy.ml 3 points 9 months ago (1 children)

Is $60k USD about what the average income is? That is what google told me.

[–] crispy_kilt@feddit.de 4 points 9 months ago

I don't know the average, but the median household income is 10'114 CHF (11'480 USD) per month, so 121'386 CHF (137'800 USD) per year.