Here's how much money you need to have saved if you want to get married and buy a home in the same year in 25 cities

Libertina Brandt

June 25, 2019 5:54 PM

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Cleveland, Ohio: You need to have saved $55,980 in the Cleveland metro area to buy a house and have a wedding in the same year.

A Redfin study took a look at how much money you need to have saved to afford a wedding and a down payment in the same year in 25 US metro areas.
Redfin's findings assume a 20% down payment on a median-priced home for each metro area. Redfin sourced average metro-level and national wedding costs from WeddingWire .
As it turns out, Cleveland, Ohio, is the most affordable major US metro for newlyweds looking to buy a home.
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Tying the knot is exciting, but it can also be expensive. Adding a down payment on a home to an already tight budget can seem nearly impossible in some US metros.

But, exactly how much wouldyou need to have saved up to accomplish both milestones in the same year?

To answer that question, Seattle-based real-estate brokerage Redfin took a look at the average cost of a wedding in 25 metro areas and the median listing price of a home in those metro areas.

Redfin's findings assume a 20% down payment on a median-priced home as of April 2019. Redfin obtained data on average metro-level and national wedding costs from WeddingWire and provided Business Insider with a photo of a median-priced home in each metro area. Redfin also provided Business Insider with the median household income in each metro area.

Keep reading to see how much you'd need to have saved to get married and buy a home in 25 US metros, ranked from most to least affordable.

See the rest of the story at Business Insider