According to a new study by SmartAsset, data is analyzed across 20 of the largest cities in the US, where Indianapolis is more affordable and Buyers can expect to spend over $50,000 during the first year, considering the median price is $184,474. In contrast with San Francisco, CA where the median price is $1,439,752 and the cost for the first year is over $360,000.
This is a clear reason for Florida’s experiences with national migration, especially from California and New York this year.
SmartAsset considered the following metrics: median price, 20% down payment, average closing costs, monthly mortgage payment, property taxes, and homeowners insurance.
Source: “How Much Does the First Year of Homeownership Cost in Large U.S. Cities?” SmartAsset.com
