Re:For first time since 1880s, more young Americans live wit...
by godzillabrennus on Wednesday May 25, 2016 @03:10AM
(#11768149)
Less than half of americans make more than $30k / year these days.
http://dailycaller.com/2015/10/25/1-in-2-working-americans-m...
Re:For first time since 1880s, more young Americans live wit...
by saiya-jin on Wednesday May 25, 2016 @05:34AM
(#11768623)
household income != individual salary in many, if not most of the cases.
Re:For first time since 1880s, more young Americans live wit...
by Turing_Machine on Wednesday May 25, 2016 @01:52PM
(#11771694)
Right. Households often have multiple incomes. That doesn't help the OP's point, though, since people in Ohio are more likely to live in a multi-income household than people in California.
If you look at per capita income instead of household, Ohio gives $135,500/$26,937 ~= 5, and California gives $405,000/$30,441 = 13 By that standard, California is 2.6 times more expensive instead of only 2.
In California the median household income is $67,458, and the median house sales price is $405,000, or about 6x median income.
So no, it is not actually true that the lower housing prices in flyover states are offset by lower incomes. Housing in California is proportionally twice as expensive as it is in Ohio.