Nevada Homes More Affordable for Buyers with Student Debt

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Irvine-based real estate Analytics Company RealtyTrac said on Thursday that homes in Nevada are more affordable for consumers who have student loans. This is because for a buyer needs only at least $29,894 in household income to purchase a median-priced in the area compared to the $23,619 in income needed by a buyer without a student loan entailing a difference of 26.6 percent.

Meanwhile, at the national level, $35,259 in income is required for consumers with student loans to buy a home while a minimum $26,291 is needed for those without student debt totaling to a difference of 34.1 percent.

“Contrary to much rampant speculation that student loan debt is holding back homeownership among recent graduates, we found that the vast majority of markets are affordable for recent graduates making the median household income, even many of those recent graduates with student loans,” RealtyTrac vice president Daren Blomquist said.

“However, student loans still represent a significant handicap for recent graduates in terms of the minimum income needed to buy a median priced home.”

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