How Deep Are Your Pockets?

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Headlines, News The Week Ahead: Nearing the Forbearance Exit 2 days ago To live comfortably in the U.S. doesn’t mean one has to be rich, but if homeowners aspire to live amongst America’s elite ZIP codes, a heavy paycheck is a requirement.A recent report by GOBankingRates used data developed from Zillow to survey monthly living expenses in the most expensive ZIP codes in each state.Expenses including transportation, utilities, health care, and groceries. The 50-30-20-budget rule was used to determine the yearly income necessary to cover necessities, discretionary income, and savings.Is it at all surprising that America’s most expensive ZIP code belongs to the Golden State? Leave it to California’s Bay Area to home the most posh suburb to live in the nation. Atherton, California, ZIP code 94027, requires a total income close to $670,000 a year to cover living expenses, and to have money left to spend and save.The Hamptons are known as the hot spot for New York’s wealthiest inhabitants and high-priced homes. Located on Long Island, one can find the ZIP code 11976 in Water Mill. With costly utilities, median home values close to $4 million, and an average mortgage payment of $16,275 a month, to live comfortably in this area will cost $440,000 total income needed.Alpine, New Jersey has a median home value of over $2.6 million. The cost of living in this ZIP code is close to five times the U.S. average, while its average mortgage payment is almost $12,000 per month, making ZIP code 07620 the third highest in the U.S.ZIP code 98039 cost of living is almost five times greater than the U.S. overall, making Medina, Washington the fourth most expensive ZIP code in the U.S. How much will it cost to call Microsoft co-founder Bill Gates, who lives with his family in a 66,000-square-foot mansion, your neighbor? A total income of $297,905.With the fifth highest median home value in this study, Greenwich, Connecticut finalizes the top spots for richest ZIP codes in the country, with a total income needed of $222,002. Fun fact, the top three most expensive ZIP codes in Connecticut are all in Greenwich. How Deep Are Your Pockets? Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Staff Writer Home / Daily Dose / How Deep Are Your Pockets?center_img  Print This Post Related Articles Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2017-07-10 Staff Writer July 10, 2017 1,352 Views Servicers Navigate the Post-Pandemic World 2 days ago Previous: Post Crisis: How Do Banks Continue Servicing Home Loans? Next: Things That Go Down, Must Go Up? The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img

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