How Many Hours Do You Have To Work To Afford Your Mortgage

How Many Hours Do You Have To Work To Afford Your Mortgage

How Many Hours Do You Have to Work to Afford Your Mortgage?

Posted on Aug 3 2016 - 4:32pm by Paige Tepping

When you take your monthly mortgage payment, utility bills and other expenditures into consideration, it’s no surprise that owning a home is an expensive proposition. But have you ever considered just how many hours you have to work to afford your home? Or how many hours you’d have to work to afford your dream home in Hawaii? (Spoiler alert: don’t buy your plane ticket quite yet!).

In fact, if you’re looking to leave the hustle and bustle of city life behind and hang 10 in Hawaii, you better be prepared to put in some long hours.

According to a study conducted by GOBankingRates—which looked at home listing prices, mortgage rates and household incomes—Hawaii tops the list of states where you’ll have to work the most to afford a mortgage, coming in at 88.13 hours a month.

On the same side of the coin are the District of Columbia (83.29 hours a month), California (78.13 hours a month) and Colorado (67.02 hours a month).

For those who can’t get enough of the great state of Ohio, you may just be in luck. The Buckeye State tops the list of places where you need to work the least to afford a mortgage at 30.76 hours a month. Next on the list is Michigan at 32.44 hours a month, Indiana at 32.72 hours a month and Iowa at 33.81 hours a month.

If you have moving on the mind, be sure to check out the infographic below before you make your decision!

mortgage afford


Victor DeFrisco Headshot
Author:
Phone: 561-951-3759
Dated: August 12th 2016
Views: 157
About Victor: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

How To Improve Your Credit Scores In 30 Days - How To Improve Credit Score In 30
Best Kids Halloween Event In Delray Beach - I want to pass this local fun
Oct 16 2018 51565 1 - GET READY FOR TAX SEASON
Oct 15 2018 49313 2 - Today I prayed that the Lord would

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Exit Realty Premier Elite
8961 Hypoluxo Road
Lake Worth, FL
561-701-8124


Other Locations