Different areas of the country present their own lifestyles and opportunities. If you’re looking for a job in healthcare, computer science, engineering, science, or management, Tulsa is a great place for these occupations, according to a recent study that Beacon Homes discovered.
PropertyShark researched America’s cities to determine the best opportunities for homeownership, according to occupation. They looked at median numbers for factors like monthly income and then subtracted local cost of living, including rent. The researchers then used that disposable income as potential monthly savings.
To figure out how long it would take to save up enough to buy a home in a particular market, PropertyShark found the median home cost. In Tulsa, for example, the media home value is estimated at $139,700. A 20% down payment would be $27,940.
In the Tulsa area, the cost of living is estimated at $3,819, including rent. The city is ranked #2 among the study’s “Best Cities” for management jobs. The median income is $5,355. Subtract the monthly living cost and you would potentially have $1,536 to put in savings each month. In 19 months, you’d have the 20% down payment.
If you work in computers, engineering, or science, the median income is $5,033. Tulsa’s healthcare occupations (diagnostics, practitioner, healthcare technology) post a median income of $5,006. All of these jobs would enable a worker to save up a 20% down payment in 24 months.
Buy a home with a lower down payment
Saving enough to buy a home is the biggest obstacle for first-time homebuyers. Living in a city where you have a cost of living that allows you to put money away is a great advantage. When it’s an exciting place to live, with plenty to do, the rewards are even greater.
While the PropertyShark study based its estimations on a 20% down payment, the average is 10% down. There are also other loans that allow for lower down payments—and 100% financing!
Jenks: The Best of Oklahoma
Beacon Homes is expanding our Yorktown community in Jenks, ranked among the “Best Places to Live in Oklahoma”. You can get all the benefits of living just 15 minutes from Tulsa with the added advantages of the Jenks lifestyle, which includes the top-notch education of the Bixby School District. Yorktown provides residents with a community swimming pool, park, fishing pond, and walking trails.
We have two single-family homes at Yorktown that are move-in ready right now, including our award-winning model home. Five more homes are under construction, so if you act now, you may have time to choose your finishes.
You don’t have to postpone your dream of owning a new home. Just talk to Beth Byrd at Beacon Homes about our Jenks community.
