One of the best ways to look at house prices in any particular area in Dominica is to compare them with local incomes. Divide the median house price by the median family income and you will find the number of years required to buy a typical family house in Dominica. This doesnâ€™t mean you canâ€™t buy a home; it will just take some years depending on size and the location area. Remember some of your money must go for groceries, transportation and so on. When you complete your calculation, it will indicate how expensive a typical family will be.
For example, one of the less expensive areas in Dominica is Tarish Pity, Roseau. The median price for a single family house cost on an estimate $55,000.00 and the median household income on estimate $24,000.00. Wowâ€¦ In Tarish Pity, two and half yearâ€™s income would not only pay for your house, but you will still have left-over money to put a fence around your property.
On the other side of the housing â€“ affordability spectrum are the smaller communities like the Roseau valley area. The most expensive being, Morne Daniel, yes itâ€™s true. The average price of a four bedroom family house in Morne Daniel is $550,000.00 (estimate) and the median household income is $60,000.00 per annum. It would take about ten years of saving your median income to buy a mid-range house in Morne Daniel and other areas like St Aroment. If your median income is large, can always consider buying a home at Picard, Portsmouth where home prices are sky rocketing by the months.