The Salary You’d Need to Afford the Most Iconic ‘Fixer Upper’ Homes

published Jun 8, 2019
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There’s no do doubt that Chip and Joanna Gaines of “Fixer Upper” put their hometown of Waco, Texas on the map. Thanks to their hit HGTV show, the town halfway between Dallas and Austin is probably now known more for shiplap and the Silos than Baylor University.

In general, Waco is a pretty affordable place to live. The median home value there is $116,800, while the median listing price is $175,000, way under the national average of $275,000. But what if you want to live in a certified “Fixer Upper” rehab? To get a true Gaines original, you might need to shell out a bit more.

Here, we’ve rounded up some of the most iconic homes featured on the show, and, using Zillow’s mortgage calculator, calculated the salary you’d need to afford them:

Note: We calculated using a 30-year-fixed loan at current interest rates and a 10 percent down payment. We defined “afford” as the guideline that your mortgage should take up 28 percent of your monthly pre-tax income. We included Zillow’s estimates for PMI, insurance, and property taxes.

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“The Asian Ranch”

Home Price: $725,000
Salary Needed: $190,000

In season two, the Gaines put their skills to use on a four-bedroom ranch with a cozy porch on a large corner lot. Known as “The Asian Ranch,” it was purchased for $262,200 back in 2015, and now it’s on the market for $725,000.

The gourmet kitchen features high-end stainless steel appliances, and each bedroom has its own full bath for ultimate privacy.

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“The Shotgun House”

Home Price: $152,248
Salary Needed: $45,000

When “The Shotgun House” was featured on season three, it was in need of some serious TLC. The 1,000-square foot tiny home was one of the most compact on the show, and had one of the biggest transformations. In 2017, it hit the market for $950,000, a price that shocked most local Realtors.

Potential homebuyers must have agreed, because the listing was removed in 2018. Although it’s not currently for sale, the Zestimate puts it at a much more reasonable $152,248. For now, you can rent it out on Airbnb for an average of $325 per night.

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Home Price: $270,493
Salary Needed: $71,000

The famous converted barn has five bedrooms and two baths that sits on 16 acres, including a lake. It will set you back an average of $576 a night to rent, and Zillow estimates its value at $270,493.

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“The Faceless Bunker”

Home Price: $899,000
Salary Needed: $233,000

This 4,000-square-foot home didn’t have much personality before its renovation, hence the nickname “The Faceless Bunker.” Now styled as a modern beach-style home, it’s listed at $899,000. Located in the desirable Cherry Creek neighborhood, the three decks offer gorgeous views of mature trees surrounding the property.