Median Housing Prices, Median Income, and what $350,000 will get you!

I've begun shopping for a condo.  This is not a fun process in greater Los Angeles mainly because I know I could be buying a giant house for the same price I'll be paying for a 2 bdrm condo.  And for the record, Los Angeles isn't that cool...so it's not really worth the difference.  In fact, I fantasize regularly about moving to cooler locales.  As such, I love nothing more than to look at real estate in other areas of the country.  Below are some price comparisons.

I'll be using $350,000 as a price point for comparison (give or take $10,0000).  And I will be selecting homes that based on pics appear desirable to ME.  I like homes with character.  Travertine tile can suck it!  As such, in many cases, I chose a home that looked a little cooler even when one that was bigger and newer was available for the same price.

So...with that...here we go!  Oh...I'll also be adding median household income and median house/condo value data for all cities...just for fun.  (All this data was collected from http://www.city-data.com, with the exception of Sherman Oaks, which was collected from http://money.cnn.com).

Beverly Hills
Estimated median household income in 2008: $93,327
Estimated median house or condo value in 2008: $2,590,563

Asking price for these side by side lots: $350,000

Pasadena, CA
Estimated median household income in 2008: $57,796 
Estimated median house or condo value in 2008: $652,400

You can get this 3 bdrm 1 bath house 1155 sq. feet  in a less desirable area of town which is listed at $349,900. 

And you'll have to buy your own appliances after closing!  And I have no idea whether that space is for the range or the fridge.  Probably the range.  But then where does the fridge go??

Sherman Oaks, CA
Median Household Income is $57,680
Median Home Price is $601,424


$360,000 for this 2 bdrm 1 1/2 bath townhouse, 921 square feet.  Location is decent but in a generic concrete jungle suburbia sorta way.  Hey it's the legendary San Fernando Valley.  I actually went and saw this place.  Nice enough...but kind of SMALL!!!

And lots of money went into the kitchen, which is fully upgraded with all the cliche crap that people like these days (granite countertops, stainless steel appliances).

Indianapolis, IN
Estimated median household income in 2008: $43,652
Estimated median house or condo value in 2008: $125,500

For $345,000 you can get this 4 bdrm 3 bath 5,142 square foot house in the highly desirable historic district of Woodruff Place, which was the city's first suburb, established in 1870.  This house was actually built in 1865 and it has all the exposed wood details common to Victorian homes.  Now I'd have to tear down that wallpaper...but this place is just gorgeous; and it has one of those wrap around porches that I LOVE!

 Austin, TX
Estimated median household income in 2008: $51,372
Estimated median house or condo value in 2008: $210,600
 
Not so familiar with different areas of Austin...but the city is beautiful.  You can have this very cute 2 bdrm 2bth 1180 square foot bungalow for $349,000.  This place is full of character and I love it...in pictures anyway!

French doors. YAY!  And I gotta admit the bright color on the walls is working for me!  The floors look like they are probably original and are quite stunning as well.

New Orleans
Estimated median household income in 2008: $37,751
Estimated median house or condo value in 2008: $194,300

Here's the outside of this historic Victorian 3 bdrm 2 bath, 1844 square foot bungalow that lists for $349,000.  I'm not sure about the location.  But it's over 100 years old.  The inside is a little over updated for my tastes...but it's still pretty cute.

This is the kitchen.  I'm a sucker for exposed brick.  And while the kitchen is a little too cookie cutter for my tastes...it's certainly usable.

Portland, OR
Estimated median household income in 2008: $50,979
Estimated median house or condo value in 2008: $310,900

This very cool mid-century modern ranch style home 3 bdrm, 2.5 baths and 1820 square feet is listed for 289,000...and it has loads and loads mid century charm...

...including decade appropriate cabinetry and an original pink range, which I love!  And that fireplace is rad!

Chicago, IL
Estimated median household income in 2008: $46,911
Estimated median house or condo value in 2008: $287,500

For 349,900, you could have a 2 bdrm 1 1/2 bath condo in this converted church/school, which is kind of rad.  The kitchen updates on this one are BAD...but it has exposed pipes and a loft layout and lots of exposed brick, so there's something to work with.

Memphis, TN
Estimated median household income in 2008: $37,207
Estimated median house or condo value in 2008: $99,900

I actually quite like Memphis.  And what a musical history it has.  You can have this 3 bedroom, 2 bath bungalow, built in 1931 for $299,900.

Again original floors that look sweet!  Unfortunately the original wood trim has been painted white.

New York City
Estimated median household income in 2008: $51,116
Estimated median house or condo value in 2008: $543,900

For $350,000, you can get this 1 bdrm, 1 bath 629 square foot condo.  It looks alright but I am not familiar with the location.

Fargo, ND
Estimated median household income in 2008: $41,181
Estimated median house or condo value in 2008: $147,200

For $328,000 you can get this 2 bdrm, 2 bath 1939 square foot condo that is the upstairs of one of an old town building.  Built in 1917, the place is completely updated with all the generic fixings...but it's also got tons of exposed brick, and tall ceilings with exposed pipes.  This is probably the single coolest place I've found so far.