Hunting House in WA? – Cities where you maximize your money

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In all respects the housing market is on fire and more than a little crazy. It’s good if you’re selling, not so good if you’re trying to break into the housing market. Excitement, stress, anxiety, hope … all of these emotions are engaged and more when you go looking for a home. The first thing you need to do is determine how many house you can afford.

How to determine what you can afford

“When figuring out how much a home you can afford, one guideline that is helpful to follow is the 36% rule. Your total monthly debt payments (student loans, credit card, car bill, and more), as well as your projected mortgage, home insurance, and property taxes, should never represent more than 36% of your gross income (that is, that is, your income before tax). While buying a new home is exciting, it should also give you a sense of stability and financial security.

Once you know your “affordable window of opportunity” you begin your search in earnest. Another aspect to consider is not just how much you need to spend, but where that money will go the most. Washington’s top three communities are Connell, Hoquiam, and Finley, but two of the state’s top ten most affordable communities are located in the Yakima Valley.

“The most affordable places were those with the lowest total shelter costs compared to the median income in each area. Each city was then indexed on a scale of 0 to 100, with the most affordable location receiving a score of 100 ”.

Most Affordable Communities in Yakima County

At number 7 on the list is our neighbor to the south, Union Gap. Using Smart assets calculations including closing costs, property taxes, home insurance and mortgage rates, a national average has been determined and set at 100%. Union Gap came in at 42.03 of the national average. The other county community on the most affordable list is Toppenish at 41.19.

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