{"id":503,"date":"2016-01-25T02:17:51","date_gmt":"2016-01-25T02:17:51","guid":{"rendered":"\/?p=503"},"modified":"2023-09-28T13:30:40","modified_gmt":"2023-09-28T13:30:40","slug":"you-have-to-live-in-new-york-city-for-18-years-to-make-buying-a-home-there-worth-your-money","status":"publish","type":"post","link":"https:\/\/maddoginsurance.com\/mortgages\/you-have-to-live-in-new-york-city-for-18-years-to-make-buying-a-home-there-worth-your-money\/","title":{"rendered":"You Have to Live in New York City for 18 Years to make Buying Worth It"},"content":{"rendered":"<p>The median sale price for a home in New York City is $1.2 million. A key factor when deciding whether to buy or rent with incredibly high prices like these, is to know exactly how long you plan on staying in that home.<\/p>\n<p>SmartAsset calculated how long it would take to make buying a home worth your money, which for New York City was 18.3 years. \u00a0This was calculated for a household earning $100,000 a year, and used data for the average mortgage from the 2012 American Community Survey.<\/p>\n<p>There are a myriad of different factors that can lead to that number changing, but for the average household it will be quite a long time before you can safely say you\u2019re getting your money&#8217;s worth on a house in NYC.<\/p>\n<p><a href=\"http:\/\/therealdeal.com\/2016\/01\/24\/you-have-to-live-in-new-york-city-more-than-18-years-to-make-buying-a-home-worth-your-money\/\" target=\"_blank\" rel=\"noopener noreferrer\">Continue reading here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The median sale price for a home in New York City is $1.2 million. A key factor when deciding whether to buy or rent with incredibly high prices like these, is to know exactly how long you plan on staying&#8230;<\/p>\n","protected":false},"author":7,"featured_media":8436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[65],"tags":[],"_links":{"self":[{"href":"https:\/\/maddoginsurance.com\/wp-json\/wp\/v2\/posts\/503"}],"collection":[{"href":"https:\/\/maddoginsurance.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/maddoginsurance.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/maddoginsurance.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/maddoginsurance.com\/wp-json\/wp\/v2\/comments?post=503"}],"version-history":[{"count":1,"href":"https:\/\/maddoginsurance.com\/wp-json\/wp\/v2\/posts\/503\/revisions"}],"predecessor-version":[{"id":8437,"href":"https:\/\/maddoginsurance.com\/wp-json\/wp\/v2\/posts\/503\/revisions\/8437"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/maddoginsurance.com\/wp-json\/wp\/v2\/media\/8436"}],"wp:attachment":[{"href":"https:\/\/maddoginsurance.com\/wp-json\/wp\/v2\/media?parent=503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/maddoginsurance.com\/wp-json\/wp\/v2\/categories?post=503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/maddoginsurance.com\/wp-json\/wp\/v2\/tags?post=503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}