How Much Would You Need to Earn to Afford a Home from ‘Fixer Upper’?
If you’re a fan of the hit HGTV show Fixer Upper, you may have fantasized about what it would be like to live in one of Chip and Joanna Gaines’s properties. The couple’s ability to transform run-down houses into stylish homes is inspiring, especially for viewers looking to renovate their own abodes. So, if you could choose your ideal home from the show, how much would you need to earn in order to afford the property? This salary calculator can help you find out!
Waco, Texas
The first step in any home-buying journey is knowing how much you can afford to spend. And as anyone who’s watched an episode of HGTV’s Fixer Upper knows, homes in Waco, Texas, aren’t cheap. But just how much would you need to earn to afford one of the most iconic properties from the show? *Monthly payment on average for a Fixer Upper home: $1,560 (depending on location and size) *The median salary for someone with college education: $42,000 *Therefore you’d need to earn at least $65,000 annually before taxes in order to afford these homes
Atlanta, Georgia
If you’re a fan of HGTV’s Fixer Upper, you might have daydreamed about owning one of the gorgeous homes featured on the show. But how much would you need to earn to actually afford one? How long would it take you to pay off your home loan? And what if you want more than just one house from the show, like Chip and Joanna Gaines themselves did with Magnolia Market at Waco in Texas and Silo Homes in Tennessee.
Woburn, Massachusetts
If you’re a fan of HGTV’s Fixer Upper, then you know that host Joanna Gaines has an eye for style. But what you might not know is that her homes come with a hefty price tag. In order to afford one of her iconic homes, you’d need to earn a salary of $303,880. And that’s just for the down payment! The average annual cost of homeownership in Woburn is about $84,000. That means in order to afford this home on your own, you would need to make over six figures per year – and that doesn’t even include mortgage insurance or taxes. The bottom line: these homes are not realistically attainable for the average American family.
Fayetteville, Arkansas
If you’re a fan of the show Fixer Upper, you know that Fayetteville, Arkansas is one of the most popular places to find a charming fixer upper. But what you might not know is just how much money you’d need to earn in order to afford one of these homes. According to Estately, an average home on Fixer Upper costs $247,000 and has four bedrooms and two bathrooms. And while this may seem like a lot of money to some people, it’s actually not all that bad when compared with other similar fixer uppers in other parts of the country. In Houston for example, a comparable home would cost $274,000 and have 3 bedrooms and 2 bathrooms.
St. Louis, Missouri
If you’re a fan of the popular home renovation show Fixer Upper, you might dream of one day owning your own shiplap-lined home. But how much would you need to earn to actually afford one of the homes featured on the show? A new study by BuildZoom revealed that for many cities in America, the answer is $150,000 or more per year. The map below breaks down where you’d need to make at least $150k annually in order to buy into Chip and Joanna Gaines’ homes without taking out a mortgage
Pittsburgh, Pennsylvania
If you’re a fan of HGTV’s Fixer Upper, then you know that many of the homes featured on the show are located in Waco, Texas. But what if you want to buy one of those homes? How much would you need to earn? In Pittsburgh, Pennsylvania where the median home price is $148,000, you would need to make about $110,000 per year. In Boise City, Oklahoma (median home price: $143,000) it’s more like $72k annually while in San Antonio (median home price: $226k) it’s more like $156k annually.