I recently watched a YouTube video published by Vox (link below) and it got me thinking about home ownership and our Market here in Corpus Christi. Our market is definitely different from one you may find in other cities in America. Although nationwide trends are moving in the same direction, where inventory is low and prices high, Corpus Christi still remains one of the most affordable places to become a homeowner.
Corpus Christi is #4 in the top 10 list of cities where it takes the least amount of time to become a homeowner. Now that is some great news!
The general rule is that you can afford a mortgage that is 2x to 2.5x your gross income.
Now let’s talk Numbers. The median price of a home in Corpus Christi in 2012 was $134 950 and just nine years later it is $234 200. That is an increase of almost $100 000. That is a big jump when you consider the average income here in Corpus was $55 831 in 2012 and today it is $75 511.
Let’s look at the numbers nationally. In 2012 the median sales price of a home was $180 519 and in 2021 $358 000. That is just over $180 000 increase. Yikes!!! That is an outrageous jump when you consider the average income in the US in 2012 was $54 569 and in 2021 $79 700.
Now that was eye opening! Whenever I hear about how much people are paying for homes in say California or Chicago I think to myself “I wonder how much those people make? Could it be THAT much more than here?” Hmmm not really. Nationally the average person can not afford the average home. Sad.
So move to Corpus Christi!
Here you can buy a home at an affordable price and we’ve got lot’s of other things that make this a great place to live. In future posts I will share with you some of the highlights of our city.
If you are relocating to Corpus or you live here already but are planning on buying or selling click below to access my website where you can search for homes and contact me. I’ll help you out in any way I can.
https://kierstabailey.kw.com/
KIERSTA BAILEY 