{"id":503,"date":"2016-01-25T02:17:51","date_gmt":"2016-01-25T02:17:51","guid":{"rendered":"\/?p=503"},"modified":"2018-09-24T16:41:15","modified_gmt":"2018-09-24T16:41:15","slug":"you-have-to-live-in-new-york-city-for-18-years-to-make-buying-a-home-there-worth-your-money","status":"publish","type":"post","link":"https:\/\/getyourfreedompass.com\/housing\/you-have-to-live-in-new-york-city-for-18-years-to-make-buying-a-home-there-worth-your-money\/","title":{"rendered":"You Have to Live in New York City for 18 Years to make Buying Worth It"},"content":{"rendered":"
The median sale price for a home in New York City is $1.2 million. A key factor when deciding whether to buy or rent with incredibly high prices like these, is to know exactly how long you plan on staying in that home.<\/p>\n
SmartAsset calculated how long it would take to make buying a home worth your money, which for New York City was 18.3 years. \u00a0This was calculated for a household earning $100,000 a year, and used data for the average mortgage from the 2012 American Community Survey.<\/p>\n
There are a myriad of different factors that can lead to that number changing, but for the average household it will be quite a long time before you can safely say you\u2019re getting your money’s worth on a house in NYC.<\/p>\n