Makeover Monday week 47, 2018: Hours Americans Need to Work to Pay Their Mortgage

This week’s data set showed data from 97 cities in the US, and how many hours a person making the median income would have to work in order to afford a median-priced home.
The chart literally pops out at you, with the skyscraper-like bars in several locations along the coast that require far too much of a person’s salary in order to afford that median-priced home. The fact of the matter is that if you live in any of the most expensive cities, there is very little chance that you’ll own a median-priced home. New York City requires someone in this category to spend over 65% of their TOTAL SALARY to afford a home, which after taxes is about everything. No food, no clothing, no fun, no…
I decided to change the hours per month calculation into a calendar-year view because I think it is a little easier for people to think about this type of information over the course of a day or a year instead of working hours in a month category. I filtered to show only the top and bottom 10 so that the chart wasn’t too long, and I was focusing only on the extremes. There were some other data that I ignored – median home price and median salaries in particular.
Hours Americans Pay to Work

This map shows the hours Americans (United State) making the median salary would have to work in a month in order to cover the mortgage cost on a median-priced home. Image Source: howmuch.net
I decided to change the hours per month calculation into a calendar-year view because I think it is a little easier for people to think about this type of information over the course of a day or a year instead of working hours in a month category. I filtered to show only the top and bottom 10 so that the chart wasn’t too long, and I was focusing only on the extremes. There were some other data that I ignored – median home price and median salaries in particular.
I also added a reference band to show one of the common benchmarks for the Debt-to-Income ratio. Coming from a Bank, I figured I should add that. I also added a source from both BofA and Wells Fargo to back up that rule of thumb.
My goal is to show consistency – show up, deliver each week, take the feedback and iterate. In addition, I want to focus on mastering the Tableau fundamentals and pushing myself to be more creative and challenging in what I create each week.
Screen Shot 2018-11-19 at 2.21.34 PM

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