For those who can afford it, the coronavirus crisis has sparked a shopping spree.
In the past year, one in twenty adults moved permanently or temporarily from their place of residence due to a Covid outbreak, according to a recent report from the Pew Research Center.
However, not everyone travels from the city to the suburbs. For example, in the New York metropolitan area, three of the top five most popular moving locations were less than 15 miles away from Manhattan. This emerges from a separate analysis of the data from the US Postal Service from Bankrate.com.
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Almost regardless of the location, prices are rising given the exploding demand.
This, in turn, has created an affordability problem for many potential buyers even though mortgage rates are close to their lowest ever.
According to a new analysis by Zippia.com, here’s how much you need to earn now to afford a home in the country’s most popular cities.
For most people on the go, hotspots like San Francisco and New York remain inaccessible. On the other hand, Detroit and Akron or Toledo, Ohio are relatively affordable.