Sure it will. That's a $1.2M house with 20% down. There are plenty of 2-3 bedroom 1200-1500sq ft houses around here in that range. Sure, it would be an average school district and maybe have a bit of a commute, but you can find stuff in that range for sure.

What does this have to do with the article about the couple living in NYC feeling average on 500k a year? In another separate market, in another region in the country... they'd pay more? OK.

Are you really sure about that? 60 000$ mortgage payment is probably more than 1 million in loan, and the property value can be double the loan (appreciation since they bought + initial payment outside of the loan). I don't exactly know the prices of houses but I guess 2 million dollar should buy you a house?

Depending on the down payment that is 1.25M home +/- 250K.

SV is huge. You can definitely get a home for that.

Note: property tax is extra.

I'm in San Jose, with pretty good school district. In this area ~1400 sq.ft. townhomes are about $1.0xM.

From another article with more details on this couple: "$5,000 a month in mortgage expense bought this family a ~$1,500,000, 3/2, 1,700 sqft apartment in Brooklyn a couple years ago."

https://www.financialsamurai.com/scraping-by-on-500000-a-yea...

Million dollar 30 mortgage is approximately 5k / month which is 60k / year. Are small homes substantially more than that?