That’s the most misleading chart I’ve ever seen.
Take Minneapolis for example (just because I live here).
A salary of $47105 for the year, filing married with 3 exemptions (which means you count your spouse and probably a child), nets you $818.93/ pay check. That’s WITHOUT any additional deductions like 401K, Insurance, etc.
Let’s also assume a 4% Interest rate financing just under 80% of the purchase price of 209400. Your payments with tax, insurance, etc. would be about $1100/month. That’s 67% of your TAKE HOME PAY. Putting food on the table, keeping the lights on, and clothes on the kid become a pretty tough ask at that point.
“Ok, your spouse should work, too.”
Awesome. But if he/she is also making 47105/year, he/she is probably working full time, which means the kid has to go to day care. And there goes another $1100/month. So you’re right back where you started.
The American Dream of investing in a home in order to make money is a sham.