Low/Middle/High Income for Asheville (Henderson, Madison: middle-class, condo, lawyers)
Western North CarolinaThe Mountain Region including Asheville
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I keep hearing folks saying that the cost of living in Asheville has gotten too high for even middle income families so I'm wondering if I can make it there. I'm looking at a family income of about $80K per year and will purchase a home ($300-400K range) outright and have no debts other than usual living expenses. According to every resource I can find the cost of living differential between my current high cost area and Asheville is about 30%. So based on this in contrast to what I'm hearing am I going to be living in poverty or high on the hog?
If you pull in $80k a year and have no house payment, you'll be doing quite well. What other expenses are there that would be different from anywhere else? The complaints about cost of living are DIRECTLY tied to the explosion in housing costs.
That $300-$400k you'll spend for your home won't get you nearly as much as it would have 5-10 years ago.
I agree...if you are buying the house outright you should have no problems. Now for a first time home buyer, even with that salary, you would have some issues, Asheville just does not have many middle-class jobs and the rise in home prices coupled with generally below average wages forces the first time home buyer to really have to struggle to find something in town.
I really am shocked at how high the housing has gone. You are right, that 300-400,000 doesn't go that far, depending on the area.
I just don't get all the super-expensive housing being built, either - who is going to buy all that high-end stuff?
Anyway, to the OP, I think you can live quite well, since you have a nice income and enough for a decent mortgage-free home.
For a high percentage of the people moving here, money is not a concern, thus most of the development here in Asheville and the surrounding areas is upscale. It's rapidly gentrifying here and will be interesting to see what happens.
For a high percentage of the people moving here, money is not a concern, thus most of the development here in Asheville and the surrounding areas is upscale. It's rapidly gentrifying here and will be interesting to see what happens.
Well, after watching this happen to my hometown, I can tell you what will happen.
They will keep coming, from all over. They will have the money to spend and it won't come from your area. They will take over the local government because they are retired and have to time to run for office and serve. The rest of the area will be working to pay the bills. They will all be anti growth and anti industry. There will not be any new high paying jobs because they won't allow the industry that brings high paying jobs to be in the area.
Eventually, the middle class will have to move on to another area to find a better job to raise a family. The only jobs will be in Medical, legal or sevice jobs. The only people with money will be the retired, doctors, and lawyers. Business will close or move because there is no longer a middle class to support them. Housing prices will begin to fall and those who are left behind will not be able to move. Don't believe it? I am living it.
VBmom, is there anything that could have been done to prevent the fate of your town? We're searching for answers here...
I think the problem arose here because of the lack of industry. So many are anti growth to the point that they are causing the town to die. I don't mean to sound like I hate retired people. Most worked hard all their life and only want a peaceful existence for the rest. It's just that some forget the rest of us have to work, raise our kids and have a life of our own. Without decent paying jobs,(and here I am talking about $50K plus) Most of the middle class will HAVE to leave.
I think the answer is MANAGED Growth as opposed to NO growth. Maybe it's a Pollyanna way of looking at things, but I do believe managed growth is possible and that all growth is not bad. I am not talking about a condo on every mountain top. What I am saying is you must keep jobs for the middle class. Service jobs are, for the most part, not middle class. IMO. You will have a hard time raising kids on $10. an hour. A town needs more than doctors, lawyers, and waiters.
I love Asheville. My grandparents have owned a place in Black Mountian since before I was born. I grew up spending many wonderful summers and Christmas' there. I lived in Asheville in the mid and late 80's and have wanted to move back ever since. I hate to see some of the growth as much as the natives do. I am just saying be careful what you wish for. As my grandmother would have said. "Don't throw the baby out with the bath water."
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