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SAB (Separated at Birth) Rutgers -Week 4

Coach Nunzio Campanile

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Sean Miller



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Living large in NJ neighborhood

Living large in Iowa neighborhood

Typical home price in Iowa: $192,568 (45% of typical U.S. price)​

  • Typical single-family home value in 2022: $192,568
  • Iowa mortgage rate, July 2022: 5.5%
  • Average mortgage payment to median income: 16.9%
Iowa has very low housing prices, mortgage rates, and a median income 1% above the national median. Those factors help it rank near the bottom in terms of how much residents spend on a mortgage.

Typical home price in New Jersey: $480,275 (105% of typical U.S. price)​

  • Typical single-family home value in 2022: $480,275
  • New Jersey mortgage rate, July 2022: 5.71%
  • Average mortgage payment to median income: 31.3%
New Jersey is home to high housing costs and high salaries (31% more than the national median). Earnings don't quite outweigh the expensive home prices, so mortgages take up a significant chunk of what homeowners make.

Living in Iowa competes with living in West Virginia or Mississippi
 
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