It looks like it is assuming paying for a mortgage and allowing like 20% for savings. They are definitely not looking at just a living wage, they are assuming home buyers that are actively saving money.
Can confirm that these figures are very inflated. I currently live in Hawaii on half of that “living wage”. Have a nice (by Hawaii standards) 2 bedroom apartment and still have over 1000 in excess income after rent\utils\groceries\gas each month.
112k is around what i would need to be making to afford a house\mortgage, but its possible to “live” without.
I call bullshit on a definition of “living wage” which claims that someone making $100,000 a year is earning less than a living wage (even in Hawaii).
It looks like it is assuming paying for a mortgage and allowing like 20% for savings. They are definitely not looking at just a living wage, they are assuming home buyers that are actively saving money.
20% savings would be nice. That would be like 1500-2000 extra per month. That’s comfortable.
Can confirm that these figures are very inflated. I currently live in Hawaii on half of that “living wage”. Have a nice (by Hawaii standards) 2 bedroom apartment and still have over 1000 in excess income after rent\utils\groceries\gas each month.
112k is around what i would need to be making to afford a house\mortgage, but its possible to “live” without.