using their “Zillow Home Value Index” by city or metro using the average of October 2021-December 2021 for each city.
Rent Prices: Monthly Median 2-Bedroom Rental Prices
Median Home: Using Zillow’s median home sales price data for the city or metro.
Effective Local Tax Rate Local + State Income Tax Rate: Using SmartAsset’s state income tax calculators for the selected income amount. Total state + city taxes/ Income. These are all Married Filing Jointly and assume $40k 401k contributions for income levels >= $100k.
Local + State Income Tax: Effective Local Tax Rate x Income
Property Tax Rate: Estimated property tax rates as a percent of the property’s overall sale price. This was manually pulled/calculated based on each city’s tax assessor.
Annual Property Tax: Property Tax Rate x Housing Price
Annual Local Tax Burden: Local and State Income Tax
Annual Mortgage Payments or Rent: Mortgage calculated based on 4% interest rates and Rent = Median Rent x 12
Annual Local Tax Burden + Housing: Annual Mortgage Payments + Annual Local Tax Burden
Nice Days: based on data from Brian Brettschneider who wrote a piece on