The Grand Rapids metropolitan area is a triangular shaped Metro Triplex, in West Michigan, which fans out westward from the primary hub city of Grand Rapids, Michigan to the other two metro hubs of Muskegon and Holland. The metropolitan area has an estimated population of 1,047,099 as of 2016. The region, noted in particular for its western edge abutting the Lake Michigan shoreline and its beaches, is a popular tourist and vacation destination during the summer. Noted popular metro area beach to
Naturally, people who earn the current California minimum wage of $9 an hour ($18,720 a year) would fare even worse in trying to afford an average apartment. Raising the minimum wage to $13.25 would equal a $27,560 salary; raising it to $15.25 an hour totals $31,720 a year.In order to afford to purchase the median-priced home in Los Angeles, you'd need to earn $96,513 a year, according to HSH.com, a mortgage information website.aising the minimum wage to $13.25 would equal a $27,560 salary; raising it to $15.25 an hour totals $31,720 a year. In order to afford to purchase the median-priced home in Los Angeles, you'd need to earn $96,513 a year, according to HSH.com, a mortgage information website.
Perhaps unsurprisingly, San Francisco requires the highest salary for homeownership. With a monthly mortgage payment of $3,199.69, HSH estimates you'd need to earn $137,129.55 to buy a home there. It was the only city that required a six-figure salary.Cleveland required the lowest salary for homeownership, at $29,788.67.e used standard 28 percent 'front-end' debt ratios and a 20 percent down payment subtracted from the median-home-price data to arrive at our figures. Loans with less than a 20 percent down payment will incur mortgage insurance which would in turn increase the required salary figure..