Housing Prices: An Informal Comparison
After pointing out yesterday that in 2006 the median monthly payment for housing in Louisville was $847 I was curious about what friends in other cities across North America (we don't deny our Canadian friends!) are paying. So I asked them:
I personally pay less than $1200 for house with 3BR/1.5BA, a library/office and a non-scary basement (very, very important) in the aforementioned best neighborhood in Louisville.
I live in what I consider to be the greatest neighborhood in Louisville. On my street there is a house for sale. It's a large Tudor (2800 sq feet, 3 bedroom, 2 bath) with a fenced backyard (including a hot tub) in walking distance to retail shops, restaurants, a great coffee shop, bread shop, hardware store, etc. It's listed for $285,000.- "1-bedroom, maybe 700 sq ft, in Seattle: $1100/mo."
- Los Angeles: "I live in an area adjacent to the Hollywood Hills (nice, but not super-high end) and I pay $2600/mo rent & ~$200/mo water. Two bedrooms, one bath, semi-poorly maintained condition (is a craftsman cottage built in 1912), original floors and moldings, crazy wiring, on a nearly double-sized lot w/ big garden and medium-sized koi pond.
Most people in the area seem to think I either have a reasonable deal or a good deal based on the market in LA. I feel like I'm getting a little hosed, but then again I don't need quite this much space (don't need two bedrooms, for example). The cost of purchase has not dropped enough yet to make home ownership an option. All the houses on my block that have gone on market since I have lived here have been at least $1mm, most closer to $1.75 mm."
- "Average home price for a detached single family home in Vancouver - $616,496 (as of March 08). That price is for a dump.
It's not unheard of for people here to spend upwards of 30% of their monthly income on housing."
- "We pay $1500 for a 4bd 2ba house in not-so-great neighborhood. Used to pay $750 for a 1bd 1ba carriage house in hip uptown 'hood (Minneapolis)."
- "In Indianapolis we paid $1000 for a 2 bedroom, 2 bath apartment in a "nice" apartment complex in a neighborhood completely devoid of character, in walking distance to nothing."
- "Our townhouse: 3BR/2BA, 1900sqft, 1st ring 'burb, ~$200k. Smaller house with same # BR/BA ~10% more in Minneapolis, ~same in St. Paul."
I personally pay less than $1200 for house with 3BR/1.5BA, a library/office and a non-scary basement (very, very important) in the aforementioned best neighborhood in Louisville.











