How much will it cost to buy a purchasable unit?
Purchase prices are based upon a household’s annual income. There are Levels of purchasable property that serve a range of incomes in Mammoth Lakes. The Level of housing an individual or household qualifies for is based upon the number of people in applicant’s household, and the total combined annual income of the household. Generally, a household can expect to pay 30% – 38% of their gross household income on housing expenses, including mortgage, utilities, homeowner’s association dues, etc.To determine how much your mortgage payment might be, add the total monthly income of all household income earners over 18 and multiply that number by .25 (25%).
