Seattle singles need 17 years to buy a home, Zillow says

[Yo_Mama_Been_Loggin]

If you're single, you know it's tough to buy a house in the Seattle area. Zillow just confirmed it, but the numbers may shock you.

According to a new study to be released on Friday, it takes a single person in Seattle more than 17 years to save up enough money for a 20% down payment. Couples can do it in just 7.6 years. The study bases that on putting aside 10 percent of income each year.

Any realtor will tell you it doesn't take 20 percent down to buy a home but you'll probably pay more in interest and you'll have to pay for PMI - Personal Mortgage Insurance.

Zillow says singles in Seattle can afford to buy a home up to $234,656. That's just 12 percent of the homes available on the market. Couples can go twice as high - up to $529,317 - because they have more income. Sixty-eight percent of homes on the market in Seattle fall into that category.

http://www.king5.com/article/news/local/seattle/seattle-singles-need-17-years-to-buy-a-home-zillow-says/281-516194758

[Merlot]

1. Wow, who knew that it's harder for singles to buy home than marrieds?

insert sarcasm thingy here

[appalachiablue]

2. Glad to know about current Seattle house prices,

not cheap of course and I thought would be higher. Good info. and cost breakdown which is always helpful.