Saving up enough money to buy a house in Philadelphia isn’t so bad compared to our neighbors in New York or Boston, but home prices are steadily rising and are at an all-time high. That’s why Realtor.com has put together a helpful guide to saving in the nation’s 15 largest cities.
The site looked at the median home price and average down payment in Philadelphia, and determined how much money you’d need to save daily in order to be able to afford buying a home. To help folks digest the numbers a little easier, they illustrated how many Starbucks Caramel Macchiatos you’d need to give up each day to save that money.
Here’s what they found for Philly:
To be able to afford a home here, where the median home price is $235,000, you’d need to put away $15.57 a day for five years. That’ll save up enough for the average down payment of 12.1 percent, or $28,435.
So if you happen to down three Macchiatos a day, you’ll have to give up that sugary luxury until the year 2021. Or, consider the 10-year savings plan, where you’d have to save just $7.79 a day—or forgo two Macchiatos.
Still balking? At least we’re not in San Francisco, where buying a house means saving $104.46 a day. Yikes.