CONTENT UNDER CONSTRUCTION

~Approximately 89.0 percent of the house’s in the United States in the first quarter 2021 were occupied and 11.1 percent were vacant. Owner-occupied house’s made up 58.3 percent of total house’s, while renter-occupied units made up 30.6 percent of the inventory in the first quarter 2021.Apr 27, 2021

~In most areas of the United States, a family of four with poverty-level income earns no more than $26,200 and can afford monthly rent of no more than $655. The national average fair market rent for a one-bedroom home is $1,017 per month and $1,246 for a two-bedroom home, far from affordable for a family in poverty.

~The average price per square foot in America is $123.00

~Renovating a house costs $10 to $60 per square foot on average, but you might spend up to $150 per square foot. It really depends on the room and where you live. Kitchens and bathrooms cost the most.

~When buying a foreclosure, it is very important to figure out how much it will cost you to remodel the property. On average, professional house flippers report spending $12,000-$17,000 to renovate a foreclosure and make it ready for re-sale.

~On a $100,000.00 home at a 4% fixed interest rate, your monthly mortgage payment on a 30-year mortgage might total $477.42 a month, while a 15-year might cost $739.69 a month. Other costs and fees related to your mortgage may increase this number.

~Well-known mortgage payment rules or methods

To determine how much you can afford using this rule, multiply your monthly gross income by 28%. For example, if you make $10,000 month, multiply $10,000 by 0.28 to get $2,800. Using these figures, your monthly Mortgage payment be no more than $2,800.