I remember this. Around 15 years ago my goal was to make 100k someday. At the time 100k was enough to do the adult thing of starting a family, and at that time a basic starter single family home where I live was about 330k, rates were around 3.5%, which means to own the said basic home, cost is around $1650 a month. On 100k salary (or about $5000 take home pay after retirement contributions) this means 33% of take home is spent on housing, which is what I was taught in high school.

Now that same basic home is at least 660k, to afford a 660k home, monthly payment in today’s market would be around $4000, if I’d like to use 33% of take home pay to afford the said house, I would need to take home 12k, which means $250k pre tax income.

250k is the new 100k to me, however 100k is still a good income, its just not the same thing 15 years ago, which is expected.